Despite the fact that today the financial exchange rates go through the third consecutive round of decline, The same does not happen with the blue dollar, which continues its advance and is close to reaching the price of the MEP. In addition to the local context. These days, fears of a global recession and a new tightening of monetary policy in the United States come into play, which explains why the risk finds a ceiling.
Today the blue dollar is sold in the caves of Florida Street for $275, which means an advance of $3 compared to the previous day (+1.1%). If the day closed in these values, it would be the highest price on record, since the highest record so far was $273 on Friday.
It should be remembered that on Monday of the week the exchange rate that is traded in the informal market reached $280. However, at the end of the day it cut 50% of that initial jump and closed at $260. Since the departure of Martín Guzmán from the Palacio de Hacienda until now, the parallel has accumulated an escalation of $36.
In the provinces of Tierra del Fuego and Santa Cruz, the little trees change green bills for $279. In Córdoba, Salta, Santa Fe and the interior of Buenos Aires, at $277; the rest of the country’s points register values between $275 and $276, according to Infodolar.
In the opposite direction, the financial dollars register some setbacks. The MEP dollar, also called Stock Exchange because it consists of the purchase and sale of financial assets, it is offered at $277.16, $2 less than yesterday (-0.7%). The dollar counted with liquidation (CCL) o Cable, an instrument whose objective is to transfer money to an account outside of Argentina, appears on screens at $288.76, a fall of $3 (-1.1%).
“On Monday, Minister Batakis showed some rationality in her words going forward and there was some relief. It was also reflected in alternative exchange rates. It will be necessary to see if it is maintained over time and if this becomes effective”, said Ariel Manito, Commercial Manager of the Personal Investment Portfolio (PPI).
As for the Argentine risk, today it advances just 3 units and consolidates at 2731 basic points (+0.1%). Still, it’s a new post-trade high. These days, the eyes of global investors rest on the next meeting of the United States Federal Reserve (Fed), when they will be able to increase interest rates as a tool to curb inflation. If so, emerging countries -such as Argentina- will be the hardest hit.
“In June, emerging market assets suffered a net outflow of $4 billion. Thus, in the last four months they have accumulated a drain of more than US$22.7 billion net. This is the fourth consecutive month of flight from emerging markets as a result of a growing risk of a global recession,” said Ignacio Morales, an analyst at Wise Capital.
Today the bonds of the last debt swap operate in the red, which explains why the index prepared by JP Morgan continues to rise, even if it is a few units. Abroad they sink to 1.3% (Bonar 2029), while at the local level the decline reaches 1.7% (AL29).
The S&P Merval remains neutral at 103,277 units (+0.1%). On the New York Stock Exchange, Argentine stocks trade unevenly: on the one hand, the shares of Telecom Argentina (+1.4%), Ternium (+1.3%) and Pampa Energía (+1.1%) rose; on the other hand, Corporación América (-3.7%), Edenor (-3.5%) and Transportadora de Gas del Sur (-3.4%) fell.