Annabella quiroga
10/16/2020 11:25 AM
Clarín.com
Economy
Updated 10/16/2020 12:55 PM
After the measures announced by the Central Bank, the blue dollar maintained its upward trend.
After the jump of $ 4 on Thursday, which took it to $ 171 on Thursday, this Friday it goes up 4 pesos, to
$ 175.
With this new increase, the exchange gap with the official dollar
consolidates above 120%,
the highest in the last three decades.
What is striking is that some operators in the parallel market begin to see that, after several days,
"finally some supply."
Which can calm the currency a bit in the marginal market.
On Thursday, the cash with liqui (CCL) reached $ 172 and it was necessary for official bodies to sell titles to get it to close at $ 168.
This Friday the cash with liqui, the stock exchange operation that allows us to extract dollars from the country, resumed the upward path: it advanced 1.5%, to $ 171.13.
The stock market dollar -which allows buying foreign currency in the local market- advanced 1.4%, to $ 157.12.
In the midst of the rise in the blue, Minister Martín Guzmán said at the IDEA Colloquium that there will be "
a change of direction
in the control of the dollar Counted with Liquidation."
"What has happened is that the market has been shrinking and that is why it has become more volatile. Now we are going to move in the direction of facilitating these operations," he said, without further details.
What were the measures of the Central Bank?
On the one hand, it
cut the Leliq rate by one point
and took it to 36%
to discourage bank placements
.
See that they disarm the Leliq and move to other instruments of the Treasury.
At the same time, it increased the yields of the one-day passive repos to 30% and to 33% for those of 7 days.
And
for the general public, it took the minimum yield of fixed terms to 34%
for placements of less than 1 million pesos.
It also dictated new restrictions so that importers can access the purchase of dollars at the official price, and ordered that it must be reported when the dollar outflow operations involved imply access to the exchange market for a daily amount that is
equal to or greater than the equivalent to US $ 50,000
.
The new measures
raised doubts
among analysts.
"If they continue to lower the rate of the Leliq (the Liquidity Letters that the Central places in the banks to get pesos out of circulation) it will be counterproductive," said Leonardo Svirsky, of Bull Markets.
"Today it is not necessary to harmonize the rates. It
is necessary to give an expectations shock
that consists of a mainly political signal, but accompanied by a fiscal signal -a budget in accordance with the current situation- and a monetary signal -lower emission-. There is not much time. "said Juan Ignacio Paolicchi, analyst at the Eco Go consultancy.
For its part, the country risk, the JP Morgan indicator that measures the over-cost faced by the Argentine debt in relation to the United States Treasury bonds, changed trend and this Friday moved downwards, after the rebound of the last days.
At the opening it
falls 2.4%,
to 1,374 basis points.
AQ
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