Gustavo Bazzan
10/15/2020 11:52 AM
Clarín.com
Economy
Updated 10/15/2020 12:45 PM
The upward march of alternative dollars is not stopping.
And the gaps within the same market are beginning to open more and more.
The most important, the one the government looks at, is the one that separates the wholesale dollar from the cash with liquidation.
The wholesaler is at 77, the
cash with liquid
at 168. The distance between both values is already at
115%.
But the CCL is also separated from
the Stock Market dollar,
which is trading at $ 152. In this case the gap between both values is
10%
.
Another way to put it: putting dollars in an account outside costs 10%.
And finally there is
the blue, which is between 168 and 169 pesos
.
In this case, you have to see the difference between this price and the
tourist dollar,
which is located at 135 pesos.
The gap here is 24%
, which ends up being an incentive to mash.
Of course, it is a business that was reduced to very few people, those who are still able to buy a savings-tourist dollar, who willingly accept to pay two taxes (
30% solidarity and 35% advance earnings)
because even so and everything is the really existing and legal dollar more accessible to buy it legally.
What emerges from this is that the objective of the Minister of Economy
Martín Guzmán
(“stabilize the gaps and then narrow them”) seems to be increasingly far from being fulfilled.
President
Alberto Fernández
denies to businessmen that eventual devaluations or mega devaluations are coming.
Deputy Chief of Staff
Cecilia Todesca
refuses to move towards a formalization of the exchange rate split.
Oblivious to these devaluations, the market continues to operate looking at the Central Bank's reserves and above all, the reality of supply and demand: there are few willing to sell dollars and many to buy them.
Opposing the force of gravity is difficult.
The specialists say that a step to be tried would be to remove the restrictions to operate dollars counted with liquid or dollar Stock market.
Due to restrictions, parking is mentioned, that is, the number of days that have to mediate between when an investor buys securities in dollars with pesos and that he can sell them against dollars, either placed in a local account (Dollar Stock Market) or foreign ( dollar CCL).
If that 15-day parking lot were to be lifted, the flow of currency supply could normalize and, perhaps, it would take pressure off the prices.
Apart from these speculations, the devaluation does not stop.
A different way of looking at it is this.
The peso, against the official dollar, is worth
US $ 0.01
2. One could speak of a blue peso: in this case the peso is worth
0.0059 dollars
.
These figures reflect by themselves why Economy officials and the Central Bank are anxious to open the borders to foreign tourists, who will find very low prices in Buenos Aires and the different tourist spots.
Unthinkable prices, typical of a third world country.
Look also
With the blue dollar at $ 166 and the rising gap, the incentive to "mash" returns
Grill dollar: the City and the Central Bank suffer from the absence of tourists in Don Julio and La Cabrera
