2023-08-18 20:34:00
For the second day in a row, the Dolar blue traded lower and closed at $720 for sale in downtown Buenos Aires this Friday, August 18.
However, it is still located $115 above the previous Friday to the STEP elections.
In another highly volatile day, the informal dollar fell $40, its biggest daily drop since April, in another round of high volatility and the gap between the blue and the official exchange rate is located in the 108,5%following hitting an intraday record of 127.1% on Wednesday, its highest level since last July’s run.
In financial prices, the dollar Cash with Settlement (CCL) fell to $714 and the MEP or stock dollar rose to $661.
The gap between the MEP and the official dollar is around 88% and the difference between the official and the CCL is 109%.
At 2:00 p.mthe blue it bounced 15 pesos and sells for $735 in the “caves” of the city. At the beginning of the day’s operations it dropped to $720, although during the week it was offered at $795 and at some points of sale to $800, following the devaluation that the Government applied on Monday following PASO.
In addition, this week it has already accumulated a rise of $130, which implies a 21.5% rise. Meanwhile, the average value of the official dollar is $367.68, while the wholesale value, which is the one that applies to foreign trade operations, is $350.
After three days of rise, the blue dollar falls back but adds more than $140 in the week
for his partthe MEP drops to $660.80 and the Cash with Settlement also operates low, to $702.07 (always depending on the bond with which the transaction is made).
At 12 o’clock
After a week that began with strong rises that led the parallel dollar price to almost 800 pesos, this Friday, August 18, it maintains the drop that began yesterday and falls back to $720 (40 pesos), although still far from $605 in those who quoted on Friday before PASO. After the primary elections, and the unexpected triumph of Javier Milei that shook the markets, the blue reached $685 that same Monday following the elections.
In any case, the maximum peak occurred on Wednesday when it touched 800 pesos, although its decline began from there. Many analysts even came out to rescue the idea that at that price the blue “is an effort.”
Dollar or fixed term: Which is more convenient following the devaluation and the rise in the rate to 118%?
For example, Dario Epstein said that “With the (dollar) MEP at 650 pesos and the UALA card that allows you to withdraw at 670, the blue at 780 is a living business! Is a gotcha! Once once more they take advantage of common people,” the economic adviser to presidential candidate Javier Milei was outraged, and he substantiated his idea that the free dollar is above a reasonable price.
For his part, the CEO of the investment fund Cocos Capital, Ariel Sbdar, noted lthe difference between the gap between a free dollar of $775 and the equivalent stock price, that of the MEP dollar, at $650. “Today the Central gives you an exit of $650 in the MEP dollar. You have parking, with which there is some price risk until the next day, but if the BCRA maintains the intervention in the coming days, the price is more or less stable “, argument.
The quotes for this Friday, August 18
Regarding today’s price of financial dollars, at noon in Buenos Aires the MEP advances in the wheel to $667.59 and the Cash with Liquidation to $747.48always depending on the bond with which the transaction is made).
For its part, the value of the official dollar is $366.55, while the wholesale value, which is the one that governs foreign trade operations, is $350. In addition, the Banco Nación quote that is applied for a series of contracts is $365.50.
It is worth remembering that, with the new scheme, the savings dollar is worth $641.46, the same as the “Tourist” dollar (which applies to expenses of less than US$300 per month). The “Qatar” (for spending over US$300) costs $659.79.
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