The free dollar is operated again on the rise this Tuesday, at $300 for sale, with a gain of nine pesos or 3.1% on the day. So far in July, it rises 62 pesos or 26 percent. It thus reaches a new nominal record, above last Friday’s intraday $295.
Meanwhile, the wholesale dollar earns 21 cents, at 129.12 pesos. The official exchange rate climbs 25.7% so far this year, against 44.2% that the free dollar has been rising. Meanwhile, the exchange rate gap between the two prices stands at 132.3 percent.
As for stock market parities, the “cash with liquidation” through the Global 30 (GD30C) reached a new record of $307. After 12:55 pm it is traded at $305, while the MEP dollar with the Bonar 30 (AL30D) reaches 294 pesos.
So far in July, the monetary authority maintains a negative net balance due to its intervention in the foreign exchange market of the order of 771 million dollars. So far in 2022, accumulated net purchases in the wholesale market for about USD 1,071 millionan amount that represents 14.5% of the net balance in favor obtained in the same period last year, which accumulated some USD 7,366 million as of July 18, 2021.
The Bookings gross international prices fell by USD 130 million on Monday and ended in 40,013 million of dollars.
Last week the BCRA announced that it will set interest rates through a corridor defined by three variables: the interest rate on short-term Treasury bills, the 28-day Liquidity Letters (Leliq) rate and the repo rate. to one day Therefore, the market expects a rate hike at this week’s meeting of the Central Board of Directors.
“Operators are still waiting for a rise in rates, after the defined corridor, in search of continuing to recover a greater appetite for titles in pesos and thus slow down the appetite for dollarization, crucial before a stage where supply is slowing down. currency. In the midst of a climate of caution due to possible new restrictions, financial dollars remain sustained since the search for coverage does not loosen, fueled not only by the scenario of “more pesos, less dollars” but also by the acceleration in inflation that generates greater pressure on the nominality of the economy”, analyzed Gustavo Berowner of the Ber Studio.
After last week’s good bidding, investors will keep their eyes on the $500bn month-end maturity when the Ledes S29L2 and Lecer X29L2 expire.
Greater exchange controls, the jump in parallel exchange rates and adjustments in regulated prices affected inflation estimates. According to private studies, inflation in the first fortnight of July registered a rise of 7.9% compared to the same period in June 2022. In this way, the increase in prices in general would have a floor of 7% month-on-month in the seventh month of the year.