The financial wheel appears negative in international markets, after the bearish shock that hit oil prices, all a sign of low demand that is leading all economies to a drop in activity.
Argentine stocks and bonds are not escaping this trend and that is why the dollar parities linked to the stock market are taking a bullish turn. This Tuesday, the “Counted with liquidation” is negotiated above 109 pesos.
The wholesale dollar It remains on the path of gradual increases supported by the positions of the Central Bank and this Tuesday it is $ 66.09, with an increase of 11 cents. So far in 2020, the interbank currency has advanced 10.4 percent.
In the small parallel market, the dollar “Blue” amounts two pesos, to $ 105 for sale, in a segment that only records a few operations for “delivery”.
Since Investments Personal Portfolio They indicated that it is necessary to follow “closely the impact of the latest measures of the monetary entity in conjunction with the amounts awarded in the upcoming Leliqs tenders and other sources of monetary issue.”
Since March 26, the Central Bank turned to the Treasury $ 210 billion in concept of Transfer of Profits, for alleged accounting gains due to the rise in the official dollar, while for Transitory Advances I send him $ 472 billion since Miguel Pesce assumed in the monetary entity, which are added to others $ 190 billion rotated by its predecessor, Guido Sandleris, in the last month of the presidency of Mauricio Macri.
This unsupported monetary issue adds up to $ 872 billion in five months, the third part of the current Monetary Base, which is expected to push for an acceleration of inflation, the speed of which will depend on the amount of those pesos that begin to circulate on the street.
Before the passage to savings banks of time depositswho touched his floor in in the last three months, the BCRA announced that it will regulate the retail rate offered by banks, which may not be less than 70% of the Liquidity Letters (Leliqs).
The cut in yields according to the reference rate of the Liquidity Letters (Leliq) of the BCRA, today in 38%, pushed fixed-term yields to a floor, which for 30-day deposits averaged last April 17 19.23% annual. Therefore, the minimum percentage of the yield of the fixed terms should be 26.6 percent.
“It also established the restriction on the participation of financial entities in the market of sureties, which are short-term investment alternatives “, he underlined Research for Traders. These funds, available at a negative real rate due to abundant liquidity, leveraged the demand for the MEP dollar, which exceeded 100 pesos on April 13.
The Central Bank’s international reserves rose USD 9 million on Monday and ended in USD 43,827 million.