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Tuesday, December 06, 2022

Fiscal day: BCRA bought another USD 370 million and free dollars fell to $288 . done

Fiscal day: BCRA bought another USD 370 million and free dollars fell to $288 .  done

A cash truck drives around in front of the Buenos Aires Stock Exchange.

A day after the end of the sale of “soy dollars” at $200, agricultural settlements for this concept continued in its entirety on the exchange market. In the wholesale session where the spot segment traded USD 736.5 million, 62% of the currencies entered the special exchange rate for agriculture. $455.8 million.

banco central finished the wheel in MULC with Net purchases of USD 370 millionWhile in September so far it has accumulated a net balance in favor of its foreign exchange intervention of USD 4,600 million, which is a record for a month.

In last 18 sessions Agreement reached for Soybean Dollar Scheme, operating since last September 6 USD 7,048 millionIn the absence of an operational roundtable with the validity of this benefit for exporters, around USD 5,000 million, much higher than the estimate projected by the government during the month.

in the forex market, The wholesale dollar rose just 21 cents to $147.07with an exchange rate difference of 85.8% compared to free dollar, which is deducted into two pesos in their selling price, at 288 pesos.

In the stock markets, the “cash with settlement” parity through the Global 30 bond (GD30C) declined by nearly three pesos to $304.29, while the MEP dollar increased with the Bonar 30 (AL30D) to $295.77.

Argentine dollar bonds were the hero of the day, a . with Global stocks fall by 4.2% of exchanges on Wall Street, fueled by a relentless global aversion to risk due to renewed fear of recession.

country at risk From JPMorgan, which measures the rate differential of US Treasury bonds with its emerging peers, Argentina climbs 114 units to 2,754 points the basics. It is worth noting that in the previous session, this index had reached 2,777 points in the afternoon, although later it fell by more than 100 units.

Global bonds for 2035 (GD35) and 2046 (GD46), continue to operate in a weak zone at $19.

The projection of a world recession argues to eliminate riskier assets such as stocks, bonds and currencies, amid expectations that interest rates in the United States will continue to rise.

while the main indicators of Wall Street fell up to 2.8%Led by technical papers, S&P Merval Closed with the Buenos Aires Stock Exchange Peso falls marginally by 0.01%, 138,004 points,

“Soybean Dollar” settlements broke all records: over US$7,000 million were recorded in September

Argentine shares and ADRs traded in the dollar in New York, down up to 5%, with Globant, Mercado Libre and Despegar as the papers posted the most significant losses.

“The external context under the said adverse background is that Traders still waiting for next exchange rate measureBefore the imminent end of the ‘soy dollar’ which contributed dollars but also added pesos”, he said. Gustavo BeruThe Economist of the Plum Study.

“It so happens that the stabilization of the exchange market, without exerting more pressure on inflation from the monetary front, is key to the aspiration to extend the atmosphere of the recent calmness in the exchange rate, even outside the ‘super dollar’. Even within the environment. One counterparty weakens other currencies,” he said.

Source: Rava Bursatil—Price In Dollars.
Source: Rava Bursatil—Price in Dollars.

In an environment of internal and external uncertainty, analysts predict that the government is working on Implementation of the “Stabilization Plan” of the economy, without officially declaring anything in this regard.

“Several versions are circulating about possible new phases of economic planning. However, if it is indeed intended to bring inflation down significantly, control of fiscal accounts, and in particular the quasi-fiscal deficit, may be achieved. To do so, it will be necessary to take more forceful measures with fundamental amendments to the exchange rate regime,” he said. Gustavo ReyesEconomist of the Mediterranean Foundation.

“Implementation of these features measures will not be without risk, as the context is of a government with little confidence, amid strong wage claims and under the external environment which has clearly become complicated”, it held.

Sovereign bonds in the electronic open market (MAE) declined an average of 1.9% despite attractive rates of return, with them registering a decline of more than 10% in eight consecutive sessions.

“There is a lot of talk about the stabilization plan, but in this situation it is complicated. There are issues under study within the economic team, but not with a complete and agreed-upon view. Measures are being taken with the aim of containing inflation,” he said recently. agustin d’atelisDirector of BCRA.

read on:

Dollars live today: Free price drops to $288 and “Counted with liquid” $304.29 . ended on
Soybean Dollar: Agricultural liquidation already exceeded USD 7,000 million in September
How the devaluation of great global currencies puts pressure on Argentina
Counterpoint between Deputy Minister of Economy and Christina Kirchner
Markets: Wall Street resumes its decline and Argentine bonds fall 4%

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