The Limited Times

Now you can see non-English news...

The blue dollar continues to rise: it is already trading at $ 143

2021-04-13T15:50:21.928Z

It is three pesos above last Friday's close and is on par with the MEP dollar. Annabella quiroga 04/13/2021 12:34 PM Clarín.com Economy Updated 04/13/2021 12:34 PM At the market opening on Tuesday, the blue dollar maintains the upward trend that it had shown on Monday. This time he increases a peso and reaches $ 143. Thus, so far this week, he has already risen three pesos. With the current price, it is at par with the MEP dollar,  which is traded on the Buenos Aires stoc



Annabella quiroga

04/13/2021 12:34 PM

  • Clarín.com

  • Economy

Updated 04/13/2021 12:34 PM

At the market opening on Tuesday, the blue dollar maintains the upward trend that it had shown on Monday.

This time he

increases a peso

and reaches $ 143. Thus, so far this week, he has already risen three pesos.

With the current price,

it is at par with the MEP dollar,

 which is traded on the Buenos Aires stock market.

With these prices, both are the cheapest on the market and are 19 pesos below the saving dollar, which is achieved at

$ 162.

The blue dollar had been calm for several days until last week, with a downward trend.

On April 7 it reached

$ 139

and with today's increase it returns to the levels of March 25.

Until now, the decline in the blue was explained by the

stability of financial dollars

, which in turn responded to the interventions of the Central Bank.

With the strong inflow of dollars from the field, which has been liquidating at a rate of

US $ 140 million per day

, 70% more than in April 2020, the Central Bank pocketed US $ 630 million in purchases in the market in so far this month.

But a good part of those dollars is destined to intervene in the market through the purchase and sale of bonds to prevent financial dollars from rising and adding

pressure to inflation.

With financial dollars stable, the blue had little room to climb.

And in a market with supply and

little demand, it

had an overreaction to the downside that partly explains the rebound of these days.

Miguel Pesce Central Bank Photo Federico Lopez Claro

Anyway, and despite this rise, it is still 23 pesos below the

$ 166

with which the informal dollar started the year.

Cash with liqui, the operation to extract foreign currency from the country through the purchase and sale of shares, rises 0.4%, to

$ 151.17.

So far this year,

the blue dollar has fallen 14%,

the MEP has risen 2%, the cash with liquidity 8% and the official dollar 10%.

All move below inflation that accumulates 12% in the first quarter.

This Tuesday the wholesale dollar increased 0.1%, to

$ 92.63

, while the retail

dollar

reached

$ 98.33

, two cents above Monday's close.

Country risk stabilizes

After yesterday's 2.5% drop, driven by the "Ecuador effect", this Tuesday the country risk remains stable at

1,578 basis points.

Yesterday the market reacted favorably to the victory of Guillermo Lasso in Ecuador, which

closed the doors

on his return to the country from the influence of Rafael Correa, the godfather of the defeated candidate, Andrés Arauz.

Ecuadorian bonds

rose to 20%

and dragged those of the region, which translated into a rise of between 1 and 3% for Argentine papers.

This situation pushed down the JP Morgan index, which measures the over-cost that Argentina must pay to borrow.

Last week

the country risk reached 1600 points.

This Tuesday, Argentine bonds oscillate between

rises and falls of around 0.5%.

On the Buenos Aires stock market, the Merval rises 0.1% after yesterday's 1.3% drop and in New York Argentine papers are mostly trading down, with

drops of up to 7%

for Bioceres.

AQ

Look also

Second wave of coronavirus: how banks will work from now on

Miguel Pesce: "There will be no bullfight at all"

Source: clarin

All business articles on 2021-04-13

You may like

Trends 24h

Business 2021-05-05T23:17:39.533Z
Business 2021-05-06T10:44:02.245Z

Latest

© Communities 2019 - Privacy