The dollar has reached another leap today, at a pace of 40 dollars.

At the gates of December, a tense month for the Argentinian market, the dollar today recorded an average rise of 1.40 pesos in all its segments, which added to the 1.10% advance. dollar that the currency had recorded last Friday.

Thus, the wholesale dollar jumped from US $ 1.45 to US $ 39.05 in the MULC, while in the retail market, the ticket was US $ 1.40 above on the screens of Banco Nacion (BNA). ), where it ended at $ 39.90.

The average between the banks that makes the Central Bank (BCRA) placed the ticket price in the $ 39.97, $ 1.47 above Friday.

Trading volume in the liquidity sector was high compared to previous wheels, reaching US $ 723,692 million, while in the future, US $ 249 million was transferred.

Currency has not reached these values ​​since late September when Luis' Toto & # 39; Caputo resigned as president of the Central Bank and Guido Sandleris replaced him. On the last Friday of this month, the bill was $ 42 and the following Monday the new monetary plan, including the non-intervention area plan, debuted.

While the market was waiting for the beginnings of the & # 39; Sandleris Plan & # 39; with the currency on the roof of the band, the dollar began a downward trajectory that led him to threaten to drill the ground, a situation that is beginning to reverse.

The blue dollar was moving at $ 37.50.

"The dollar has continued to rise 3.85% against the peso, an unusual day, because after 14 hours, the open market electronic control systems (MAE) regulating prices informed by SIOPEL have dropped by the minute, which has left moments only communicated by telephony between market operators, "said Fernando Izzo of ABC Mercado de Cambios.

This problem "contributed to distorting the normal movement of dollar prices in the MULC and arrived at the end of the day with problems and prices with spreads of up to 24 cents between buyer and seller".

"That's why today's rise was caused by two causes, one because of the limited information available in the last segments of the market and the other because this week it is not only three full days to run and next Thursday, questions they talk about transport that would paralyze the market, "he said.

The ticket was thus removed from the ground of the band of the non-intervention zone which threatened to drill weeks ago. For today, the Central placed on the floor at $ 35,893, while the ceiling was $ 46.45.

Despite the rise, the average Leliq rate fell further. BCRA auctioned $ 134,579 million in 8-day auction liquidity bills. The average cut rate was 61.237%, compared to 61.40% on Friday, while the maximum rate allowed was 61.749%, the same level as last Friday.

Why the dollar goes up

"There has been disarmament of the positions in pesos, plus the bottleneck that has generated the holidays in the United States, added to the close of late Thursday, because the G20 will not participate Friday in operations ", he explained during a dialogue with El Cronista Gustavo Quintana of PR Changes.

For its part, the financial badyst Christian Buteler He recalled that added to this "last week, Leliq and Lebac had weights, in full rate decline".

"This means that at a certain point, the banks will also have to lower the forward rate because the funds paid to Leliq come from term financing," he remarked.

Buteler: "Two days of climbing more than 3%, it's starting to worry a bit."

And he added: "In 2018, we learned that whoever goes out and dollarizes is the one who gets the cheapest dollar. "

Tomorrow, Hacienda will place Lecap, Letes and Bonos Bote to capture the pesos left free in the market and avoid further pressure on the exchange rate.

For Buteler, "if the BCRA had gone to settle before, it would have paid a higher rate and would have a negative financial result". "Here the question is what do they want to do with the exchange rate, I do not see the nervous government with this type of change, we have to remember that they did not want to buy s & # 39; They drilled the word, "he recalled and warned "Two days of 3% rise, it's starting to worry a bit."