Dollar today: the free price rose to $323 and the BCRA bought USD 5 million in the market

The free dollar closed trading this Tuesday at $323 for salewith a weight gain. The currency was offered low for most of the session, but recovered positions after 3 pm, in the last hour of trading. The “blue” maintains a rise of 83 pesos or 34.9% so far in July.

In the wholesale market, the dollar gained 28 cents, to 130.68 pesos. The exchange gap between the two prices reaches 147.2 percent.

the financial analyst christian butler commented to Infobae that “the truth is that the blue rose more due to uncertainty that for what the cash with liquidation and the MEP really rose, and that for the demand. In these days when he was seen raising seven, eight or nine pesos, what transcended from some money tables was that there was no one on demand that validated those prices.”

“After the latest regulations on the Cedear, the financial dollars continue in breathing mode beyond the search for coverage among economic agents remains intactin the midst of challenges due to inflationary and financial tensions as well as an increasingly delicate political, economic and social scenario”, evaluated the economist Gustavo Ber.

Meanwhile, the BCRA was left with a balance in favor of almost USD 5 million for its foreign exchange participation, with which it managed to add three consecutive rounds with a positive net balance. Market sources indicated that the demand for energy imports reached 50 million dollars.

As far as Julythe monetary authority maintains a Negative net balance due to its intervention in the foreign exchange market in the order of 876 million of dollars. So far in 2022, it accumulated net purchases in the wholesale market for some USD 966 million, an amount that represents 12.9% of the net balance in favor obtained in the same period last year, which accumulated some USD 7,512 million at July 25, 2021.

Gross international reserves grew by USD 45 million on Monday and ended at 39,759 million dollars.

The Treasury will go to the local market this Wednesday in search of some $270,000 million to cover the maturities of the Ledes S29L2 and the Lecer X29L2 and end up closing the deficit for the month. The Minister of Economy, Silvina Batakis, managed to successfully pass her first test in the first tender of the month, due to doubts about the Government’s financing capacity in the local market.

This is the tender for a new Lelite for Common Investment Funds, maturing on August 16, for a minimum nominal amount of $20,000 million, at a price of $975.17 per 1,000 nominal.

The issuance of Ledes S31O2 is also reopened, for a minimum nominal amount of $80,000 million, at a maximum price of $858.50 per 1,000 nominal. The issuance of the Lecer X20E3 is reopened, for a minimum nominal amount of $80,000 million, without a determined price. And the issuance of the Lecer X19Y3 is reopened, for a minimum nominal amount of $60,000 million, without a determined price. These instruments to be tendered will form part of the Market Makers Program.

In addition, the issuance of the Treasury Bond linked to the dollar is reopened (pegged dollar) maturing on July 31, 2023 (T2V3), for a minimum nominal amount of USD 200 million (equivalent to $26,000 million), without a determined price to bid. This instrument will not be part of the Market Makers Program.


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