The economist Gustavo Ber pointed out that financial dollars “Savings continue to be surprisingly below the dollar, due to the seasonal higher demand for pesos and interventions, a condition that could only be circumstantial in view of the growing perception of cheapening of said references“.
Next week, the Ministry of Economy will seek to exchange short-term assets in pesos for local law bonds in dollars. Eligible securities correspond to Short-Term Bills / Bonds (discounted, Lepases, Lecer and Boncer) with maturities between January and May 2021 and may be exchanged for Bonar 2030 and / or Bonar 2035.
In this way, the Treasury will give bondholders the possibility to dollarize, which could also take pressure off the exchange rate.
Meanwhile, the market awaits progress in the negotiations with the International Monetary Fund (IMF) and does not stop paying attention to the level of BCRA reserves, which in December showed some improvement.
Official dollar
The Solidarity dollar, which includes the PAIS Tax of 30% and the income tax of 35%, rose $ 1.15 in the week to $ 144.95. It happened since the retailer advanced 70 cents to $ 87.85 according to the average number of banks surveyed by the BCRA.
This Friday, the currency ended almost stable in the retail segment, while Banco Nación, meanwhile, the bill rose 25 cents this Friday to $ 87.50.
For its part, The wholesale currency rose 56 cents to $ 82.21 in the week, slightly less than the 58 cents of the previous week, confirming the forecasts that anticipated some stability in the adjustment rhythm established by the control authority. This Friday it went up eight cents.
Private sources indicated, in this sense, that the monetary authority would have ended this day with a balance in favor of US $ 22 million, which leaves a net purchase of US $ 115 million for this short week. This was the first positive record in a month and the highest figure since the week of June 8.
For the first time in many months, the Central Bank manages to show a positive balance due to its exchange regulation, which, although of little amount so far, contrasts with the strong losses of reserves of the previous months“, highlighted the analyst Gustavo Quintana.
The North American currency operated very stabilized during this last day, with minimal fluctuation and with the values crystallized in the range established by the monetary authority for today. In a scenario of very low volume of operations, prices respected the official slogan at all times, exhibiting a development of calm and without surprises.
The minimums were recorded at the beginning at $ 82.21, eight cents above the previous end and only moved to maximums at $ 82.22 per unit, a value defined as a ceiling for the date by the decision of the Central Bank.
As happened throughout the week, the monetary authority supplies the market in the first section of the wheel with specific selling interventions that are reversed when the genuine supply improves its performance. Central purchases defended a defined floor at $ 82.21, keeping it unchanged until the end of the session.
Quintana mentioned that “the expectations of significant adjustments in the exchange rate are diluted in the first part of December, a fact that is also confirmed by the evolution of prices in the futures markets, which show significant decreases in prices in the more immediate terms with their correlate in the implicit interest rates “.
In this framework, Bookings International gross of the Central Bank climbed US $ 7 million to US $ 38,750 million, for which they accumulated a growth of US $ 40 million compared to last Friday.
Blue Dollar
After touching its lowest value in almost three months, the blue dollar rebounded $ 2 this Friday to $ 148, according to a survey of Ambit in caves of the Buenos Aires city. However, he accumulated his fourth consecutive weekly casualty.
The gap with the official wholesale dollar was 80%, well below the ceiling of almost 150% that was observed in mid-October.
The parallel ticket had dropped $ 4 in the previous two days to $ 146, the lowest since mid-September. In this way, compared to last Friday it exhibited a loss of $ 2.
It should be remembered that the blue had risen strongly in the second week of November to a maximum of $ 172, before the reappearance of demand, which did not find support in the genuine supply. However, for four weeks it has been going down uninterruptedly.
Futures
In the ROFEX futures market, US $ 386 million were traded. Terms were down again an average of 0.2%. December ended with a rate of 36.85% and January at 54.76%.
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