Annabella quiroga
07/19/2021 12:21 PM
Clarín.com
Economy
Updated 07/19/2021 12:21 PM
At the beginning of the week, the blue dollar rises one peso and trades at
$ 180.
With this start, it inaugurates a week in which exchange rate tension will once again be present amid the efforts of the Government to control alternative dollars and
reduce the gap below 80%
.
At the same time, Argentine papers are sinking amid the uncertainty of global markets that are retreating before the advance of the Delta variant of Covid.
Last Friday the blue had already reached $ 180, but it fell back at the end of the day and ended at $ 179. With this price, the informal
is the most expensive dollar on the market
and takes 12 pesos ahead of the savings dollar, which today it reaches $ 168.
The blue dollar increased 11 pesos so far in July.
With these prices, the exchange gap with respect to the wholesale exchange rate, which today is trading at $ 96.30,
widens to 87%.
The pressure is also being felt on financial dollars.
Cash with liquid, which allows the country to draw foreign currency, rises 2.8%, to
$ 170.8
.
While the MEP dollar that can be purchased on the Buenos Aires stock market, advances 1.1%, to $
167.3.
The wholesale dollar is
up 9 cents
to $ 96.31.
In this way, it consolidates its role as an inflationary anchor: so far this month it increases just 0.6% and in the year accumulates a rise of 14.5%, against an inflation that practically doubles it and
touches 29% in seven months.
Through the Central Bank, the Government launched a combo of measures a week ago to
restrict the number of operations
that companies can carry out on a weekly basis in cash with liquidity.
This allows the monetary authority to spend less dollars in controlling the movements of this market.
The intention of the Government is to prevent the CCL from consolidating above $ 170, so that at the same time it serves as an anchor for the blue and
thus stops it from climbing beyond $ 180
.
But amid the uncertainty before a second semester in which there will be less income of dollars by exporters and more expenses due to the pandemic and the electoral campaign, the pressures on the dollar remain.
With the new controls, the
alternative price of cash with liquid
gained weight
.
It is SENEBI, a market that works between private parties and where the Central does not intervene, which means that when negotiating the price by buying and selling Argentine shares, the price is already close to $ 175.
Stocks sink
For the Argentine papers the week started with the left foot.
The Merval
falls 2.6%
.
The entire central panel has negative results, led by Cresud, which fell 5%.
On Wall Street, Argentine stocks follow the path set by the Dow Jones, which yields 2% amid market fear of the advance of the Delta variant of Covid.
In the case of ADRs, the drops are amplified:
the 2% drop marks the bottom for the entire panel,
which in papers such as IRSA and Corporación América reached a 5% decline.
In this climate, country risk, the JP Morgan indicator that marks the
excess
rate that Argentina should pay for borrowing,
rises 1.3%
and once again stands above 1600 basis points.
By midmorning the index reaches
1608 points.
AQ
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