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The blue dollar opens stable amid expectations for the new measures that seek to calm the gap

2020-10-19T14:28:12.913Z


Financial dollars started higher. The wholesaler raised 7 cents.


10/19/2020 11:15

  • Clarín.com

  • Economy

Updated 10/19/2020 11:15 AM

At the beginning of the week, the blue dollar opened at $ 178 after the rise of 12 pesos last week, given the expectations generated in the market by the

new measures

that the Government will launch to try to appease the exchange market.

The cash with liqui, the operation to carry foreign currency abroad, started the day with

a rise of 2.5%,

which places it at $ 168. Last Friday it reached $ 172 and then fell to $ 165 in part due to expectations regarding the measures and partly due to the intervention of public bodies that came out to sell bonds to lower the CCL.

For its part, the MEP, which allows buying dollars through the Buenos Aires stock market, rises 2%, to $ 155.

In the official segment, the wholesaler opened with a rise of 7 cents, which takes it to

$ 77.59

.

While the retailer reaches

$ 83.25,

a rise of five cents at the open that takes the dollar savings to $ 137.10.

Financial dollars are the ones that will fully feel the impact of the measures that Minister Martín Guzmán will implement.

Last week the minister anticipated that there will be "a

change of direction

in the control of the dollar counted with liquidation. We are going to move in the direction of facilitating these operations."

Market speculations suggest that what will be announced will be the reduction or

elimination of parking

to turn dollars abroad.

With the super stocks, a 15-day parking was established to send foreign currency outside the country through cash with liquid.

This implies that those who want to carry out this operation must buy a bond or a local share -the most used is AL30, one of the securities issued after the exchange- and keep it for 15 business days before being able to draw it outside the country.

This especially complicated the investment funds that had entered the country a couple of years ago, when the

carry trade

reigned

- the operation that took advantage of the stability of the dollar to sell foreign currency, take advantage of the high rates in pesos and then to re-dollarize, and that they were trapped with the successive restrictions that were put into effect a year ago.

It is estimated that these funds have

US $ 7,000 million

that today pressure the exchange market.

AQ

Look also

Dollar: Economy hurries the easing of the "counted with liqui" to avoid another shot

Another round of measures in the attempt to tame the dollar freely and without restraint

Source: clarin

All business articles on 2020-10-19

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