the blue dollar
dropped one peso after Sergio Massa's agreement with the banks to kick off debt maturities of $7 trillion in 2024 and 2025, the parallel currency had a significant increase: it rose seven pesos and closed at $
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Majority falls among dollar bonds
Debt securities operated with a negative trend on Wednesday.
The losses were led by AL41 (-3.2%), followed by AL35 (-2.2%) and AE38 (-1.4%).
Only the GD46 (1.4%) registered an increase.
Country risk, for its part, rose 2.3% to 2,091 points.
In line with the blue dollar, financial dollars also registered strong rises
The CCL dollar, the one used by companies to remit foreign currency, closed at $379.26, four pesos more expensive than in the previous session.
Meanwhile, the MEP dollar, which is obtained by buying and selling bonds, flew: it ended at $372.86, almost six pesos more expensive than yesterday.
The blue dollar closed at $378
The foreign currency in the informal market jumped seven pesos this Wednesday.
The Central Bank sold US$66 million
The balance of this Wednesday became the highest daily sale so far in March and, in this way, the monetary authority accumulates a negative balance of US$ 195 million in the month.
The official dollar closed at $206.75
The foreign currency on the boards of Banco Nación, for sale, rose 50 cents this Wednesday.
The blue does not stop: it goes up another three pesos and reaches $ 378
The blue dollar hits another jump and reaches $378. So far this day the rise is $7. For purchase it trades at $373.
The international stock markets register a positive trend and oil operates in low
The markets of the Asia-Pacific region registered the majority of falls, according to the Bloomberg news agency.
The Japanese Nikkei index rose 0.48% and those of South Korea, 1.28%, Taiwan, 0.25%;
Hong Kong, 2.35%, and China (-0.06% in its Shanghai index and -0.09% in the Shenzhen).
In Europe, the main exchanges operate with ups and downs.
In this sense, London fell 0.12% and Paris 0.19%;
while Frankfurt and Milan rose -each one- 0.18% and Milan 0.11%.
In the New York markets, its main index, the Dow Jones Industrials, falls 0.26% and stands at 32,769.93 points;
while the selective S&P 500 and Nasdaq technological indexes advanced 0.09% and 0.37%, respectively.
The São Paulo Stock Exchange, in its main index, Bovespa, operates on the rise (2.06%), reaching 106,377.73 points.
Juan Manuel Barca
Miguel Kiguel: "The opposition wants the government to devalue, but the next administration will have to do it"
There are two unknowns that plague investors.
One has to do with the government's ability to get through the elections with the economy more or less under control, and the other with the margin of the next administration to make a harsher adjustment.
For the ex-Secretary of Finance, Miguel Kiguel, Sergio Massa will advance a "partial" devaluation with multiple exchange rates, but without paying the "cost" of the adjustment that the opposition demands.
"There will not be a devaluation, we will have many exchange rates, a soybean dollar 3 that will be $67 pesos higher than the current one, there may be another dollar for tourism, where US$ 500 million per month are lost, they talk about the Malbec dollar, they are not going to devalue the official one, they are going to continue creating exchange rates and they will send tourism, imports and exports, it is a devaluation in fact, but they are not going to call it that to preserve the narrative," said the economist.
The director of the consultancy Econviews analyzed the panorama during a talk on the economy and the elections organized by the financial group Adcap, of which Javier Timerman and Paula Gándara are part.
In this context, he referred to the tensions with the opposition, which in a month published three statements to denounce that the Frente de Todos will leave a "bomb" and that the debt swap agreed with the banks will cause a greater "inflationary jump".
"The opposition wants, if it can, that the government pay the cost of the adjustment. This is devaluation and inflation and the impact that it can have is a social cost for the people on the street," he said.
And he asked himself: "Can you do populism and spend more? You don't have a lot of space, there are no reserves, the dollar is going to rise very quickly, so they want to spend, but they need to arrive with the economy in good shape and that limits them from doing things crazy, the situation is very fragile".
The blue dollar, another two pesos up
The parallel dollar rises two pesos again and now reaches $375 for sale.
For the purchase it is listed at $371.
The blue raises another weight and reaches $ 373 for sale
Buenos Aires exchange houses are now selling the blue dollar at $373, two pesos above the starting value on this Wednesday.
For purchase it is listed at $369.
The Buenos Aires Stock Exchange operates with a rise of 0.98% at the opening
The Buenos Aires Stock Exchange operates at the opening today with a rise of 0.98% in its main index, the S&P Merval, which stands at 248,938.53 points.
Meanwhile, the volume traded in shares exceeds $72 million.
Cash with liquidity and country risk drop
In the stock market, the dollar counted with settlement (CCL) falls 0.3% and trades at $374.56.
For its part, the MEP or Stock Market dollar fell 0.1%, to $366.54.
Meanwhile, the Argentine country risk lost 0.2% and stood at 2,039 basis points, according to the index prepared by JP Morgan.
The blue raises a weight and reaches $ 372
A few minutes after the opening, the blue dollar rises one peso and reaches the value of $372 for sale.
For the purchase it is listed at $368.
The blue dollar opens at $371
The exchange houses, at their opening, sell the blue dollar at $371, the price at which the parallel currency closed on Tuesday afternoon.
Now the dollar mate: each region requests a special currency to be able to export
Yerba mate producers ask for a dollar of $280 to improve their competitiveness.
After the announcement of the "malbec dollar" by the Minister of Economy Sergio Massa in Mendoza, Misiones stepped on the accelerator to obtain a differential dollar for four products that are pillars of its economy: yerba mate, tea, wood
Governor Oscar Herrera Ahuad admitted that he had contacts with Massa all weekend and assured that "we are on the right track" to achieve the benefit as of April, the same period in which the differential dollar for wine would start.
"We hope that soon we can announce it in a specific way for the province of Misiones," added Herrera Ahuad after inaugurating a school in Posadas.
It is not yet defined if the four productive chains will be able to export with the same reference value or if each one will be managed with a different price, since they face different realities.
The official dollar opens with the same closing value of Monday
After a Tuesday without changes, the official dollar, according to the Banco Nación quote, opens at the same value as at Monday's close.
That is, at $206.25 for sale and $198.25 for purchase.
Amid falls in bonds and shares, the Central Bank sold US$ 52 million
This Tuesday the market had started calmly and with good prospects after the announcement of the debt swap in pesos that Minister Sergio Massa agreed with the banks to kick off the 2024 and 2025 debt maturities for $7 trillion.
Bonds opened higher both in pesos and in dollars and the blue dollar came to pierce the floor of $370 for a few hours.
But the international scene played against.
Following comments by the Chairman of the United States Federal Reserve, Jerome Powell, who suggested that interest rates could rise more than expected, international markets fell and dragged down emerging markets.
In this framework, the Merval yielded 2.57%, under the impact of the wave of the Dow Jones that lost 1.7%.
The $2,500 million in loans offered by Banco Nación ran out in one hour and they decided to double the amount
In a context of severe drought and extreme heat, this Tuesday Expoagro 2023 opened its doors in San Nicolás. Harvest projections are not encouraging and there is concern among producers about how to settle the debts contracted and how to face the next planting, it can be notice in their faces and in the talks, how you also notice the need to move on.
In this scenario, the statements of the president of Banco Nación, Silvina Batakis, were striking, who assured that the credits for $2,500 million offered for the purchase of machinery on the first day of the exhibition, were exhausted in just one hour and, for this reason, the entity dedicated to doubling the offer, bringing the amount to $5,000 million.
"Perhaps in these twenty minutes that have passed since we announced it, they have already run out," Batakis said at a press conference in which the Secretary of Agriculture, Livestock and Fisheries of the Nation, Juan José Bahillo, also participated;
the Secretary of Industry and Productive Development, Ignacio de Mendiguren;
the president of the National Institute of Industrial Technology, Sandra Mayol;
the president of the National Institute of Agricultural Technology, Mariano Garmendia;
and the Secretary of Federal Agricultural Coordination, Jorge Solmi.
Expoagro: the debt swap got on the agenda and generated a spicy debate
The debt swap in pesos launched by the government on Tuesday continues to raise a stir among economists of different political beliefs.
The discussion moved yesterday to Expoagro, where the financial firm Allaria organized a panel led by Marina Dal Pogetto, Emmanuel Alvarez Agis and Hernán Lacunza.
It was a racy discussion, which held the attention of about 300 people who packed into a tent (some sitting on the ground) with little air conditioning.
"Offering a dual bond that gives the creditor the option to choose between devaluation and inflation, whichever suits them best, is expensive. If we give them the option to sell the bond at any time, it is directly a user operation" Lacunza said.
The blue dollar closed Tuesday at $371
The US currency that is obtained in the parallel market had started the wheel downwards and cut throughout the day.
It closed a peso below Monday's price.
The IMF resolved to give more credit to the countries and left the surcharges unchanged
Amid falls in bonds and shares, the Central Bank sold US$ 52 million