08/07/2020 - 11:37
- Clarín.com
- Economy
- Economy
The boost given by the agreement between the Government and the creditors for the debt to the market ended on Thursday and this Friday the market started with the same pessimism . Except for the blue dollar, the alternative dollars show increases of more than 2% , while the bonds fall and the country risk advances again.
The blue dollar remains at $ 132 (far from the $ 128 it had touched on Tuesday after the announcement of the agreement), the MEP dollar, which allows the acquisition of foreign currency operating on the Buenos Aires stock exchange, rises 2.2%, to $ 124, 36 and cash, the operation to get dollars out of the country, rebounded 2.9%, to $ 127.12 . In this way they recover the July trend, when they had climbed 18% in their price.
The wholesale dollar, which is operated by banks and companies, advanced 6 cents to $ 72.76 and marks a 44% gap with the blue. It has already accumulated a 44-cent rise since last Friday, a reflection of the acceleration in the rate of devaluation that the Central Bank has been showing.
The retailer sells for $ 77 at some banks, bringing the solidarity dollar to $ 100 with the 30% tax.
According to market data, the Central Bank sold about US $ 80 million on Thursday to prevent the currency from escaping. I don't know
"Argentine savers have a predilection for the dollar and, therefore, this currency is generally under buying pressure . As the beginning of the month, many workers turn part of their income into dollars, fearing that there will be an inflationary jump as they leave relaxing the isolation conditions, "said Joaquín Candia, financial analyst at Rava.
The change in climate was also felt in the country risk that rises again, as on Thursday: it is up 0.9%,up to 2,075 basis points.
In the Buenosairean stock exchange the Merval opened stable but in Wall Street the Argentine actions marked falls of up to 5%, as the case of IRSA. The losses of the rest of the papers ranged between 1 and 3%.
From Personal Portfolio they pointed out that towards the end of the week, " optimism regarding the debt agreement is losing strength . After the strong increases we saw in the first two wheels of August, local financial assets were moderating the trend, and they already found themselves operating within the negative terrain. "
Analysts point out that the market had already been "pricing" the agreement for a while. "On the day of the announcement there were strong increases. Therefore, the decreases are only price corrections since the situation did not change. Until we know the true adherence to the swap, towards the end of August, and the rate at which investors They will discount the new bonds, there should be no news that significantly alters the dynamics of the bonds, "Candia said. But he stressed that the negotiation with the IMF "is a factor that could affect the price of public securities."
