CCL dollar closed almost 20% below its January record and the gap fell to almost a year low

For its part, The MEP or Stock Exchange -also valued with the Global 2030 bond- fell 0.4% to stand at $190.17and moved the gap to 70.3%.

It is worth remembering that the CCL has accumulated a collapse of 18.5% since the principle of understanding with the International Monetary Fund (IMF) was announced at the end of January. Within the framework of the agreement, the Central Bank (BCRA) has been adjusting interest rates upwards and accelerating the rate of devaluation.

That, added to the attractive context to carry out “carry trade” taking advantage of the rates of securities indexed to inflation (CER), contributes to reduce the demand not only of the financiers, but also of the blue dollarwhich on this day sinks $3 to its lowest nominal value of 2022.

It is worth noting that, despite the nominal corrections established by the monetary authority, both the “crawling peg” and the rates in pesos continue to run behind an inflation that in March could record its highest monthly advance since 2018, which worries investors. with a view to meeting the objectives set out in the agreement with the IMF.

“The internal political scenario continues to raise concerns as a result of the continuous tensions in the ruling coalition, since the short circuits could become a serious conditioning factor for the management of the Government and the implementation of the goals agreed with the IMF, even more so as the 2023 electoral calendar is approaching,” warned an operator.

At the same time, a report from the Invest Online (IOL) brokerage company warned of the complications that the soybean and corn harvest could suffer as a result of the shortage of diesel and the escalation in its price, a situation that led to transporters of grains, integrated into the Federation of Argentine Transporters (Fetra), to make the decision to carry out a national strike on April 11 for an indefinite period of time.

Given the difficulties in importing energy in the world due to the war between Russia and Ukraine, Argentina agreed on Tuesday with Bolivia the main guidelines to obtain a greater supply of natural gas during the coming winter.

official dollar

In the official segment, the wholesale exchange rate rose 13 cents and closed at $111.70after posting its biggest gain for a start to the week since March 2 on Monday.

“In the first two days of this week, the wholesale exchange rate advanced 58 cents, against 45 cents of rise registered in the same period of the previous week. The official strategy seems to have entered a higher speed path in the price update of the wholesale dollar, in line with the commitment derived from the agreement with the IMF,” said Gustavo Quintana, from PR Corredores de Cambio.

This Tuesday the BCRA was able to end its intervention in the foreign exchange market with a favorable balance of US$15 millionwhile waiting for a higher income of foreign currency from the harvest to have a greater firepower in the control of the “green ticket”.

For its part, the Savings dollar or Solidarity dollar -retail plus taxes- grew 14 cents to $193.22, and was less than $3 from becoming the most expensive exchange rate in the marketdue to the collapse of the blue.