In his fourth day of rise in which he already scores $50 increase, the parallel dollar grows again at the close of the seventh month of the year and write down $795 for purchase and $790 for salealthough in some specific portals it has already reached the round figure of $800. Although this is an informal quote, in which there is usually price variability depending on the operator, this figure had already been reached at the end of August. Anyway, it is at its all-time highs. And according to analysts, this exchange rate has not yet expressed all the rise it could.
The rest of the dollars are also agitated. The Cash with Settlement at levels close to $830 and trading upwards, while the stock market dollar is at $709.
Operators have been warning about a climate of uncertainty ahead of the presidential elections that leaves a bitter aftertaste in the market, especially because there would be no clear winner in the first round. This accelerates investors’ appetite to dollarize their portfolios.
The Central Bank tightens exchange restrictions with a measure that raises doubts
Furthermore, the rain of more pesos in the market after the latest measures by the Government to rebuild consumption in the form of soft loans and bonds that cannot go to the MEP dollar or the savings dollar, continue to put pressure on the informal price.
For its part, the official dollar is quoted at $347.50 for purchase and $365.50 for sale.
Dollar Shooting Cashed with Liquidation
For his part, the dollar counted with settlement is also on the rise and is trading at $828.
It is worth considering that yesterday, The CCL dollar climbed $30, breaking a historical record. It was the eighth consecutive jump in which the dollar used by companies to transfer foreign currency abroad reached a value of $819.17, with a gap with the official figure of 134.1%.
EMeanwhile, the MEP dollar had a minor increase, of $4.95 (0.7%), reaching $694.8.
As indicated Wise Capital in your daily market analysis, “The outlook for the future is not encouraging. It is expected that with the proximity of the presidential elections, coverage in dollars will increase. Added to this is the end of the soy dollar (which allowed the Government to intervene in financial dollars) and the flood of announcements by Sergio Massa that does not stop injecting pesos into the market,” they expressed.
Also, volatility in the market
Yesterday, stocks also showed rising prices while bonds in dollars and pesos were punished and did not find a floor. For Wise Capital this can only be related “to a volatility that can only be explained by a political context with an uncertain ending”.
Thus, BYMA’s S&P Merval rose 4.4% and ADRs rose up to 4.5%. In the fixed income segment, however, sovereign bonds nominated in dollars fell up to 8.2%. The debt in pesos fell again sharply in almost all curves. The country risk added the tenth consecutive increase, climbing 4.1% and ending at 2,489 basis points.
The country risk also escalates and reaches 2,523 points.