The free dollar fell 15 pesos at the opening
He free dollar It is offered at $945 for sale and $925 for purchase in financial institutions in the City of Buenos Aires. This is a drop of 15 pesos compared to last Friday’s close, when it stood at $960 for sale after climbing 35 pesos last week.
The drop in the bill contrasts with a rise in the dollar MEPwhich gains 1.57% to trade at $888 and with an advance of 0.39% of the dollar counted with settlementat $881 per unit.
The Central Bank has exhausted its ability to intervene in the dollar and will have to use the yuan, which is equivalent to USD 6.2 billion
The monetary authority reaches the last week before the presidential election exhausted of resources, which stimulates bets on dollarization, although according to the consultants it would not be with the same strength as before the PASO
The calculations failed and the Central Bank was left with minimal capacity to intervene in financial dollars. Therefore, this week, like Friday, the bond buyback will be replaced by raids by security forces accompanied by AFIP and Customs inspectors. There will be no shortage of calls to the ALyC (stock brokers) to moderate their operations. The interventions will have minimal volumes and the only weapon to enter dollars will be the increasingly meager export settlements, using the yuan and not selling foreign currency to importers.
The back and forth of the presidential candidates on the economy: a debate that became an exam
Although Javier Milei confirmed that he would eliminate the Central Bank, he was much less assertive about other proposals. By taking the initiative with direct questions to his opponent, Massa avoided having to give explanations about the results of the government’s performance and his own ministerial management.
Crossings and questions marked the first axis of discussion of the presidential debate before the runoff between Sergio Massa y Javier Miley. The candidates mentioned already known ideas – such as increase in exports as a way to combat inflation and, on the other, dollarization and the elimination of the Central Bank– and most of the minutes seemed like an examination of the official candidate to the libertarian.
The free dollar was at 960 pesos
He free dollar The week starts at $960, the dollar cash with settlement at $881 and the dollar MEP to $875per unit.
The Central Bank acquired USD 6 million on Friday and accumulates a positive balance of USD 78 million during the week. With shares climbing up to almost 10%, the S&P Merval rose 5.8% on Friday.
Record inflation: monetary issuance will close the year at levels close to the pandemic
The BCRA’s assistance to finance the imbalance is this year almost triple the annual average between 2004 and 2019. Since the coronavirus crisis, the “little machine” has never turned off
Although the debate persists about whether the monetary issue is the main cause of inflation, the truth is that the correlation that is verified this year seems to agree with those who postulate, citing Milton Friedmanthat inflation is “always and everywhere” a monetary phenomenon.
The dollar is at the same level as in 2015: how much should it rise to accompany inflation
The exchange rate delay increased and the candidates do not give precise clues about what will happen to the value of currencies after the elections
The exchange rate delay is the perfect siren song for most governments in Argentina, especially in an electoral period.
Financial day: the free dollar rose slightly and the stock market extended its bullish streak
The uncertainty in the run-up to the runoff underpinned the dollarization of portfolios and put pressure on the price of the US banknote in the different markets.
The Argentine exchange round reflected the electoral tension with a dollarization of portfolios as a hedge against doubts regarding the country’s future president, just nine days before the second electoral round that will define the national political and economic panorama.
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