The price of the free dollar rises 12.7% in 2021
The free dollar rose to a limited 50 cents this Tuesday, to $ 187 for sale, which equaled its maximum values of 2021, reached on September 8. The marginal dollar sustains an increase of 3% or 5.50 pesos in September, which increases to 12.7% since the beginning of the year.
In the wholesale market, the dollar concluded at $ 98.66, three cents above the previous close, with an exchange gap of 89.5 percent.
The implicit parities in Argentine stocks and bonds that are traded simultaneously in pesos and dollars this week registered new historical highs, close to 200 pesos, and with an exchange gap close to 100 percent with the wholesale dollar.
In the PPT (Price-Time Priority) market of ByMA (Argentine Stock Exchanges and Markets), where public entities intervene with the purchase and sale of bonds, both the cash with settlement (to get currency in an account abroad) and the MEP dollar (to credit the tickets in a local account) are agreed around 175 pesos.
“Beyond the respite of the last wheels, the drainage in net reserves that leaves as a balance the interventions both in the wholesale dollar and in the financial ones continues to arouse concerns. In this sense, beyond these efforts, another ‘gap’ begins to widen, one that reflects the implicit exchange rate of instruments that exhibit freer operations, which in some cases is already above $ 190 ″, analyzed the economist Gustavo Ber.
The cash with implicit settlement in Argentine shares that are traded simultaneously on the Buenos Aires Stock Exchange and on Wall Street reached a maximum of $ 197 (with YPF), while on average it reaches $ 196, with a gap of 98.6% with respect to the wholesale dollar.
Meanwhile, the Senebi stock dollar (Bilateral Trading Segment) of ByMA traded around $ 192 in “immediate cash” operations with the C or Cable type of GD30 bonds, today the highest amount traded. With the GD38 it is negotiated at 192.50 pesos, and with GD41, at 185.50 pesos. Regarding Treasury Bills, the free “cash with liquid” is agreed at $ 191.90 through the T2X2 bond, and at $ 192.20 through the TV22 bond.
This Tuesday, the Central Bank ended its foreign exchange participation with a neutral balance, in a session that once again registered an important spot volume of about USD 555.5 million. The monetary entity thus completed five consecutive rounds without the need to make sales in the exchange market, despite the fact that September is characterized by being a month whose demand exceeds private supply.
The Central maintains a negative net balance due to its interventions in the cash market that reached USD 692 million in September, and which has increased to USD 1,047 million since August 26.
“The entry of exports allowed in September a sharp drop in the net demand for foreign currency, and the BCRA reduced assistance to less than USD 700 million compared to more than USD 1,600 million in the same month of 2020,” said Gustavo Quintana, agent of PR Corredores de Cambio.
In the course of 2021, the monetary entity maintains a net balance in favor of its participation in the interbank market for about 6,478 million dollars.
In addition to net sales, due to debt maturities in September, international reserves maintain a fall of some 3,000 million dollars.
The Central’s international reserves increased this Monday by about USD 8 million and ended at 43,139 million dollars.
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