In turn, the stock prices traded with increases: the dollar counted with settlement is offered at $ 112.16 while the MEP is trading at $ 109.93
At the start of the week, the wholesale dollar was up 10 cents and was trading around $ 63.53, while the blue dollar was holding at $ 117, after hitting a $ 120 ceiling last Thursday.
Last Thursday, the FIU and the CNV launched measures to curb speculative operations in relation to the financial quotations of the dollar, which made the price of the MEP dollar and the cash with liquidation jump and also gave impetus to the blue.
Among other points, the Mutual Investment Funds were obliged to reorder their portfolios and thus transfer some US $ 150 million to the market.
In turn, the stock prices traded with increases: the dollar counted with liquidation (CCL) is offered at $ 112.16 while the MEP dollar is trading at $ 109.93.
For its part, in the informal segment, the blue dollar is holding around $ 117.
The retail dollar -average in the City of Buenos Aires- was around $ 68.61, so the value of the tourist dollar, which has the surcharge of 30% of the country tax on average is $ 89.19.
In the City of Buenos Aires the average price of the dollar is around $ 68.61, according to the usual survey carried out by the Central Bank among the main entities that operate in it. The breakdown by entity is as follows:
– Galicia: $ 68.75
– Nation: $ 68.25
– ICBC: $ 69.20
– BBVA: $ 69.45
– Supervielle: $ 69
– Santander: $ 68.50
– Balance: $ 68
At 13:30, the country risk stood at 4116 basis points, 1.2% more than last Friday’s close.
Stock exchanges of the world
On Wall Street, local stocks show mixed trends. Meanwhile, the Merval fell 0.4%. The shares that rose the most were those of Edenor (5.1%), Cresud (4.2%) and Telecom (4.3%). Meanwhile, those that fell the most were those of Grupo Financiero Galicia (3.4%), Banco Macro (2.4%) and Pampa Energía (2.2%).
On Wall Street, Argentine stocks showed mixed trends. Those that fell the most were those of Grupo Financiero Galicia (6.2%) and Banco Macro (5.2%). The ones that won the most were IRSA (4%) and Despegar (3.2%).
Globally, it is also a wheel with mixed trends. The main exchanges in the Asia-Pacific region closed with a positive sign: Japan advanced 2.71%; Shanghai, 0.25%; Hong Kong, 2.58%; Taiwan, 2.13%; and Korea, 1.59%.
Payment Management Rise of the financial dollar
Measured by the exchange rate that arises from counted with liquidation (CCL), Argentina leads the world podium.
According to calculations of GMA CapitalIn the ranking of the currencies against the dollar in 2020, the Argentine peso is the most devalued. The variation of the exchange rate so far this year in the different countries is as follows:
1- Against the Argentine peso (measured by the CCL) the dollar rises 49.4%.
2- The greenback against the Brazilian real climbs 39.3% (on Friday it closed 5.58 reais).
3-The exchange rate in Russia (read, versus the ruble) rises 36%.
4-The dollar against the Mexican peso appreciates 32% in these first months of the year.
5-The US currency it gains 23.4% versus the Colombian peso.
Of course, the official exchange rate (as it was said, inaccessible to any mortal) rises 11% so far this 2020, which somehow reflects a certain “backwardness” in comparison with the region’s currencies.
Furthermore, the problem for Argentina is how the gap between the official and the parallel value was exacerbated. Taking the CCL the distance with which the BCRA “sells” is 68.5%. Although the cash with liquidation rises 50 percent this year, adding what happened in 2018 and 2019 already almost climbs more than 85 percent.
Of course, the big question is where the financial exchange rate can go and how far the gap would go. In your weekly report, Delphos Investment He says that -based on some assumptions and simulations- the “cash count” could reach a level of 140/160 pesos per dollar at the end of the year.
“If the depreciation rate of the official exchange rate allowed to raise the price by $ 80 by the end of the year, then we would be talking about a gap level of between 75% and 100%”, estimates Delphos.
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