Dollar today: the free price yields and also the “cash with liquidation”

In 2022 inflation continues to take advantage of the dollar.

The Free dollar is traded this Monday at $293 for sale, with drop of two pesos in the day. The bill is still three pesos below its closing value in July, at 296 pesos.

The dollar in the wholesale segment settles at $136.78, with an increase of 61 cents on the day. The exchange gap with the “blue” settles at 114.2 percent.

The Minister of Economy Serge Massa appointed on Sunday the economist and consultant gabriel rubinstein as secretary of Economic Programming, a position that is equivalent to vice minister.

“It is not the first time that the renowned economist has served in public office. Rubinstein worked as a representative of the BCRA during the administration of Minister Roberto Lavagna, and was a member of the public debt negotiating committee with private creditors and the IMF in 2002-2005. Currently, he has his own consulting firm, GRA Consultores, which has more than 17 years of experience and is highly recognized locally, “they summarized from Personal Portfolio Investments.

What is Rubinstein’s economic vision? “Massa’s new right-hand man is characterized by having a orthodox position and far from the most radical wing of the coalition pro-government”, they added from Personal Portfolio.

Through his Twitter account, Minister Sergio Massa confirmed this weekend Gabriel Rubinstein as the new Secretary of Economic Programming

The dollar “counted with liquidation” exceeded 300 pesos on Friday for the first time so far in August. It must be remembered that the “liqui” reached a record of $340 on July 24, therefore it continues to be more than 10% below that maximum reached a month ago.

Analysts point out that the Exit of investors positioned in the TO26 bond -some pointed to the US Templeton fund-, a fixed-rate peso title issued during the government of Mauricio Macri. The pesos obtained from its sale could pressure the “cash with liquidation” to its maximum in August.

In parallel, it was given that this was the last week of the deadline for the readjustment to the holding of Cedear in the hands of Legal Entitieswhich from now on cannot exceed USD 100,000. The sales of these certificates backed by foreign shares contributed in recent days to placate the implicit parity of the “contado con liqui”. Said effect was exhausted as of the validity of the regulations for companies.

“With a certain change in trend regarding BCRA sales, the monetary authority accumulates six rounds of slight purchases that have not yet offset the negative monthly variation (-USD 700 million). Meanwhile, the pace of drag pin has been averaging an Annual Effective Rate of 82%, which is below most market rates (Lede of 98%, Leliq of 97%, Repos of 91%, Retail Fixed Term of 97%) but in line with the Badlar ( 81%). This scheme favors the accumulation of reserves due to the disincentive for exporters to keep stocks and importers to go into debt to import”, he considered. lucas yachtHead of Strategy and Investments at Liebre Capital.

The Central Bank completed a series of seven consecutive wheels with balance in favor for its foreign exchange intervention, with total purchases of 144 million dollars.

The Central maintains during the course of August net sales in the interbank market for some 704 million dollars. The monetary entity faces a negative 2022 in the exchange market with net sales of USD 93 million, when it had obtained a net balance in favor in the same period of last year of about USD 7,422 million as of August 19, 2021.

The Bookings international gross grew in the last four rounds by USD 49 million and ended in 37,063 million of dollars.

The Argentine financial market awaits further definitions on the implementation of economic measures announced by the new Minister of Economy, Serge Massathat will seek to channel the country’s accounts. In the external context, concerns about the global economic slowdown weighed amid rising inflation rates.


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