Annabella quiroga
08/02/2021 13:05
Clarín.com
Economy
Updated 08/02/2021 13:05
The blue dollar started August at
$ 180
, the same level at which it closed July.
With this price, the gap with respect to the wholesale dollar reaches 85%.
This Monday the cash with liqui (CCL) increases 1.4%, to
$ 171.2.
While the MEP dollar rises 0.7%, to
$ 169.3.
Yesterday Minister Martín Guzmán highlighted in statements to C5N that this informal market has "little impact due to its small size" and assured that the Government
has "instruments to maintain the gap with the official dollar
."
Although blue is an illegal market where official measures have no effect, in fact, as has happened several times this year,
communicating vessels
appear
.
One of these formats is that of
"friendly hands"
, where operators close to the Government sell at a lower price.
As it is a small market, which does not move more than
US $ 4 million a day
, with two or three large operations it is possible to cut the run.
In addition, the Central Bank intervenes to control the price of financial dollars and prevent them from breaking the ceiling of $ 170, which sets a strong benchmark for blue and gives it less room to escape.
However, in recent weeks, the SENEBI segment has gained relevance in which private parties negotiate the price of cash with liquid without the intervention of the Central and where the
price reaches $ 180
, a level more in tune with the blue.
With the price of $ 181 the blue is located 12 pesos above the saving dollar, which sells for
$ 168
.
This gives more air to the sales of dollars in the banks that were in the doldrums until two months ago.
The main reason for this is that
until the end of June the blue dollar was cheaper than the savings dollar.
So those seeking to dollarize opted for the informal one, which in addition to having a more attractive price is not tied to the quota of US $ 200 per month.
But in the last week of June, the savings dollar surpassed the blue and this made purchases by homebanking increase.
According to data from the Central Bank, in June the acquisition of savings dollars grew 50% compared to May.
These are still small amounts in relation to the amount of dollars that were bought before the stocks.
But the
US $ 79 million
that Argentines bought in the banks in June shows that the appetite for the currency is still active, beyond the restrictions.
According to market data, in July, with the blue already taking more than $ 10 ahead of the savings dollar, the purchase of dollars was further consolidated, with rates that in some banks
doubled their June levels.
They are also rising card purchases abroad, which in June
rose 29% boosted
by the Argentineans who traveled to the
vaccine in the
United States.
Low country risk
Country risk, the JP Morgan indicator that measures the excess rate that Argentina should pay for borrowing, fell 0.4%, to
1,589 basis points.
In Buenos Aires, the Merval opened lower, with
a fall of 0.1%,
while in New York Argentine shares are trading mixed.
AQ
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