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Monday, January 30, 2023

What are the main reasons behind the rise of the dollar

a few days after the start of qatar world cup, The dollar rose and touched $308 in the parallel market, while it also The financiers fired.

For the thousands of Argentinians who travel to watch the Argentina national team, I It is cheaper to get your currencies on the black market than to face tax surcharges with the so-called “Qatar dollar”, which is already around $340.

In a scenario marked by inflationary pressures and sustained, the US currency rose to its highest level in four months sale of reserves by the central bank, Which were only interrupted this Wednesday after more than two weeks of negative balances.

for the economist george neuroThe rise of the blue dollar mirrors the rise of the rest of the financial dollar, which began last week and continues these days after several months of calm highs.

they assumed it was a “In these months we have updated prices based on inflation”.

>> Read more: The blue dollar rises 14 pesos in two days and breaks another record since July

“Parallel dollar has become cheaper. Market was already expecting it and we have to see what will be the highest level of financial dollar in next few days,” he added.

The parallel dollar posted its biggest daily increase in a month, in line with a significant increase in the financial exchange rates.

The main reason behind the skyrocketing of the dollar

so far in november BCRA accumulates sales of about US$ 1,000 million to meet the actual demand for foreign exchange, Which is not supported in the proposal for agricultural dollars.

given the uncertainty that blue dollar overheated The experts said that the most surprising thing was actually keep calm

expert Christian Butler He pointed out that in the context of inflation between 6% and 7% per month for the dollar and was logical to issue a clear.

she said “go up now because there’s a Time bound demand for people traveling to the World Cup in Qatar. If they pay with a credit card, one dollar applies to $340, so Today it is more convenient to get currency in MEP or blue so that it can be spent in cash”.

Given the potential volatility, most tourists to Argentina now prefer to pay cheaper, he explained.

They said that “When the World Cup is over, then come the holidays, with the same concept. Dollar Card is always cheaper than free,

Juan Pablo Albornoz, Consultancy Inveqc, explained that the various free exchange rates came from the accumulation of a wide period Exchange cool.

“in a context where Inflation remains very highThere are hidden risks of overheating of the gap,” he said.

World Nation News Desk
World Nation News Deskhttps://worldnationnews.com/
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