Annabella quiroga
06/28/2021 12:39
Clarín.com
Economy
Updated 06/28/2021 12:39 PM
This Monday
the blue dollar took a breather
after last week's strong rally.
At the opening of the wheel he dropped a peso, to
$ 173
.
This time the tension was transferred to financial dollars, where cash with liquid increased 2.9% and was close to $ 170.
The dollar reportedly
increased by 20 pesos
so far in June and fell by two pesos between Friday and Monday.
Still at $ 173 it is still the most expensive on the market.
Behind the rise of the blue these days there is a mixture of reasons: it was
behind the rest of the dollars,
there is a stationary effect of greater demand for the collection of the Christmas bonus, and a rising dollarization due to electoral uncertainty and the increase of public spending in the face of the second wave of Covid.
On the other hand, the cash with liqui (CCL), the operation to extract foreign currency from the country, climbs 2.8% on the day and reaches
$ 169.50.
This adds up to an increase of 20.9% in the year, which would place it as the one that increased the most in 2021 and the one that most closely follows the evolution of inflation.
The Price Index is close to 26% increase in the first semester.
The MEP dollar, which is traded on the Buenos Aires stock exchange,
rises 1.3% to $ 165.6,
an increase of 18.3% so far this year.
Financial dollars are in the sights of the Central Bank, which intervenes every day to prevent them from escaping and pressing first on the blue and then on inflation.
The rise in the exchange rate gap, which
today stands at 81%
between the official wholesale dollar and the blue, brings more uncertainty to the market, which affects prices.
The Central Bank can intervene in the
financial dollar
market
by selling bonds that are used for these operations, which raises supply, lowers prices and depresses prices.
This usually happens at the end of each day.
The situation of the blue and financial dollars was analyzed last Saturday at Quinta de Olivos by President Alberto Fernández and the Minister of Economy, Martín Guzmán.
Country risk increases
Country risk, the JP Morgan indicator that measures the surcharge that Argentina pays to borrow, rises 0.8% this Monday to
1,586 basis points
.
This reflects that the market continues to hit the MSCI's decision last week to demote Argentina from the emerging country category to Standalone, the lowest line.
Thus, bonds continue to fall and the same occurs with Argentine stocks listed on Wall Street.
There, most of the ADRs are trading down,
with losses of up to 5% for YPF.
AQ
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