Annabella quiroga
03/16/2021 2:28 PM
Clarín.com
Economy
Updated 03/16/2021 2:28 PM
The blue dollar once again shows its volatility this Tuesday.
After yesterday's rise of four pesos, which led it to open the week at $ 146,
today it drops to $ 143
and thus is once again the cheapest in the market.
With the upturn in yesterday's informal, for a few hours the cheapest dollar became the MEP, which is traded on the Buenos Aires stock market, and ended at $ 144.5 on Monday.
But this Tuesday the blue
drops three pesos
and recovers the place it has been occupying since January as the cheapest in the square.
So far in 2021, the informal fell 23 pesos.
And it is
17 pesos below the saving dollar.
The volatility of blue is linked to the
shallowness of
the local market, which generates sharp oscillations.
So far this year, the informal follows the trend of financial dollars.
Both the MEP and the cash with liquidity have been falling since November due to the intervention of the Central Bank and ANSeS, selling bonds to prevent the prices of these currencies from escaping.
But in the last four weeks that market was also influenced by the impact of the extraordinary wealth tax, which causes part of the 300,000 people reached by this tribute to sell tickets to collect the pesos to face the March 30 expiration.
Thus, the fall in financial dollars put a ceiling on the blue that folded into the downtrend.
To this is added that the blue had an overshooting last October, when it reached $ 195. There were buyers who today
are over-dollarized
and have to go out to sell to meet their daily expenses.
Faced with this greater supply,
demand remains low
and this pushes the price down.
In the official segment, the wholesaler rose 0.1% to
$ 91.14
and the retail averaged
$ 96.70
, just a penny above Monday's close.
In this way, the saving dollar, with the PAIS tax surcharges and the Withholding of Earnings, reaches
$ 159.5
.
In financial dollars, the MEP increased 0.7%, to
$ 145.7
and the cash with liquid, which allows foreign currency to be withdrawn from the country, rose 0.7%, to
$ 150.3
.
So far this year they have increased 4% and 7%, respectively.
This Tuesday the country risk fell again for the third consecutive day.
The JP Morgan indicator, which measures the surcharge paid by Argentine debt, today drops 1.7%, to 1,546 basis points.
For analyst Javier Rava, from Rava Bursátil, "the waters seem to be entering a calm period for sovereign bonds in dollars. After the strong blow they suffered last Wednesday, stocks bounce and recover with very good increases throughout around the curve ".
In the Buenos Aires stock market the Merval fell 0.8%.
In New York, almost all ADRs are listed in the red, with a few exceptions such as Despegar, which is up 9%.
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