After four consecutive rounds of growth, the free dollar give up six pesos at 12:15 p.m., at 332 pesos for sale. The currency hit an intraday all-time high of $350 for sale on Friday, and a closing record of 338 pesos.
So far in July, the ticket in the parallel circuit maintains a gain of 94 pesos or 39.5 percent.
The dollar in the wholesale segment rises 65 cents, to 130.39 pesos. The exchange gap with the “blue” reaches 154.6 percent.
In the midst of exchange rate tensions and awaiting an announcement of strong economic measures to change the expectations of the markets, the Minister of Economy, Silvina Batakistraveled to the US to hold a series of meetings in Washington with authorities from the IMF and the US Treasury, with the intention of ratifying the agreement signed last March.
Batakis will take advantage of his trip to Washington to unlock stalled loans from the IDB and the World Bank.
“Today you need to change expectations. What I feel is that the expectations did not change and it is not the fault of Batakis. I believe that politics has been running far behind events. What used to be fixed with signs, today I have doubts that it will be fixed with concrete facts, “said the economist Rodrigo Alvarez by FMI Millennium.
The Government facilitated the liquidation of foreign currency by foreign tourists, who will be able to sell up to USD 5,000 at the financial exchange rate, and improved the conditions of access to the foreign exchange market for the payment of imports of supplies for strategic sectors. This was done in an attempt to stop the rise of the informal dollar.
As far as juliothe monetary authority maintains a negative net balance for its intervention in the foreign exchange market of the order of 936 million of dollars. So far in 2022, it accumulated net purchases in the wholesale market for some USD 906 million, an amount that represents 12.1% of the net balance in favor obtained in the same period last year, which accumulated some USD 7,493 million at July 22, 2021.
The gross international reserves of the BCRA decreased in the last five rounds by USD 429 million and ended at 39,714 million dollars.
“Due to the complex situation of the local economy, the BCRA was unable to take advantage of the record sales of the agro-industrial complex for its objective of accumulating international reserves. In short, the seasonality of the settlement of the thick harvest and the growth of energy purchases with prospects of continuity in demand, at least during the winter, would project a decrease in the supply of foreign currency through the main channel that Argentina has today. , the commercial. Thus, the second semester would demand a change in the dynamics if the appropriate goals of the agreement with the IMF are to be achieved”, indicated the CREATE Foundation in a report.
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