01/05/2021 12:19
Clarín.com
Economy
Updated 01/05/2021 1:32 PM
This Tuesday, the blue dollar started lower and lost four pesos, which brings it to $ 161. In this way, it has already dropped five pesos since the beginning of the year.
Yesterday a peso had fallen, to $ 165. With this he cut the streak of
five consecutive wheels of raises of the last wheels of December.
In 2020
the blue dollar was up 121%
.
It started at $ 75 and reached $ 195, although in the last month of the year it stabilized at around $ 150. It was only before Christmas that it began to rise to end at $ 166.
Thus the gap with respect to the official dollar
reaches 90%
after
reaching
150% in mid-October.
For this year, the Government's expectation is to close that gap to avoid instability in the market.
The MEP dollar, which is accessed through operations on the Buenos Aires stock market,
rises 1.7% to $ 144.6.
While the cash with liquid or CCL, which allows foreign currency to be taken abroad, rebounds 2%, to $ 145. Despite these increases, they are
still the cheapest dollars on the market
for those who seek to save.
This occurs because
the saving dollar reaches $ 148.75
, so it is more convenient to buy foreign currency in the financial market, where there are no quotas and the restrictions are lower, than to resort to homebanking.
This Tuesday, the wholesale dollar started at
$ 84.80
, a rise of 14 cents over Monday's close.
While the retailer is trading at $ 90.51 in the Central Bank average.
Country risk, the JP Morgan indicator that measures the rate that Argentina should pay for borrowing in relation to the yield of the United States Treasury, increases 0.3%, which takes it to
1404 basis points.
It hadn't reached that level since December 10.
One of the challenges for the Government this year will be
to reduce country risk
, or in other words, to get investors to trust Argentine bonds again.
After the debt swap that was closed last August, the country risk was expected to pierce the floor of 1000 points.
Although due to the change in the composition of the index, which derecognized old bonds and added new ones,
the country risk left the range of 2000 points
, it never penetrated 1000. And in the last two months it has moved between 1300 and 1400 points.
This occurs because the bonds issued after the exchange continue to reflect a
high degree of distrust
in their yields
.
So they pay a rate of 16%, when the expectation of the Government and a good part of the market was that it will be below 10% or at most 12%.
The Merval opened higher, with 0.3%, after
yesterday's
1.3% fall
.
On Wall Street, Argentine stocks trade mixed.
AQ
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