In the wholesale segment, the US currency closed the last round of the week at $ 72.32, always under the watchful eye of the Central Bank
In the last round of July, the Dolar blue it advanced this Friday to $ 136, and thus ended the month with an increase of $ 10, against the $ 126 that ended in June.
Since the quarantine began in late March, the blue has accumulated a rise of $ 52.
This occurred in the midst of restrictions on buying the $ 200 for savings imposed by the Central Bank.
In addition, investors looked closely at the stock quotes They try to be contained with the latest restrictions imposed by the National Securities Commission (CNV).
The dollar counted with liquidation it is offered at $ 124.35 (rise of 2.4% on the day).
For his part, the Dollar Exchange, or MEP, was located around $ 122.29 (+ 2.3%).
As noted above, the Dolar blue It was listed at $ 136 in caves in the Buenos Aires downtown.
What is the behavior of the blue dollar?
In turn, in the wholesale segment, the US currency closed the last wheel of the week at $ 72.32, always under the watchful eye of the Central Bank (BCRA).
In the official retail market, the North American currency operated at an average of $ 76.38 in agencies and banks in the city of Buenos Aires, so the tourist dollar, which is calculated with the surcharge of 30% of the COUNTRY tax, sold for $ 99.30.
According to the usual survey that the central bank Among the main financial entities that operate in the City, the sale prices were as follows:
– Galicia: $ 76.40
– Nation: $ 76.25
– ICBC: $ 75.70
– Supervielle: $ 76
– Santander: $ 76.50
– HSBC: $ 76.05
– Itaú: $ 76.20
He Dolar blue, which was located at $ 136, it does not have an official price, but its value comes out of the average price at unofficial exchange places.
He exchange clamp, a measure implemented to control the price of the currency and take care of the Central Bank’s reserves, reactivated parallel market operations, where users seek to avoid the cap of $ 200 per month for savings.
For his part, the country risk of Argentina it stood at 2,266 basis points.
The trap to the dollar and business doubts according to the CEO of AmCham
The vision of the US companies on the Argentine economy is not new and it does not differ too much from the perception of the local business community. Even so, the gaze of the multinationals (which will drive foreign direct investment) is always key. And the exchange clamp, clearly, is an anti-company policy since they cannot access the exchange market or turn profits. Alejandro Diaz, CEO AmCham Argentina (the United States Chamber of Commerce in Argentina) affirmed that “foreign exchange interventionism no longer exists in the world”.
The executive, who received the Minister of Production a few days ago Matías Kulfas In a virtual meeting for the members of the chamber, however, he stressed that the government has the vision that these restrictions are temporary. “Foreign exchange interventionism is no longer in the world, and that arose from the conversation with Minister Kulfas in which he emphasized that they are conjunctural things, carried over from last year and now influenced by the pandemic. That’s good to hear because if conditions improve there will be more freedom. “Diaz stressed in dialogue with the program “Pablo and the Stock Market” which is issued by FM Milenium.
The chamber that groups American multinationals like IBM believes that there is a vocation to remove the stocks
For the CEO of AmCham, that same idea of loosening the restrictions on the dollar “you will notice when you chat with the central bank“.”They also understand that it is not long-term policy that is not viable if the private sector is going to recover“he remarked.
Regarding how the crisis is going through the American companies in the country, the specialist said that in the short term they are all surfing the fall in goods and trying to glimpse what the demand for the products will be going forward.
“The problem of Argentina is how it came before the crisis. U.S entered with systemic growth, the recovery speed of the American economy is shocking. Argentina is not going to be like this. Here it is said that only in 2023 will it return to a pre-pandemic scenario, “Díaz warned in his talk with FM Milenium.
For AmCham, the foreign businessman doubts the long term of Argentina
Without investment there is no future
And he emphasized that an additional element is not only how state resources will be used to help companies recover, but the discussion is who will be the engine of the reactivation. In that line, the SMEs And big companies have to invest again and that is the role that the private sector has to have, he added. The problem, clearly, is the lack of signs that companies have to reinvest. For now, there is no economic path that will make companies trust and give the Argentine economy a chance again.
On that, the CEO of AmCham (the chamber that has companies like IBM, Cisco, Visa, Exxon Mobil, Google and MIcrosoft among the 580 members) He said that it does not matter if it is a local or multinational company, since if one sees Argentine history “it is getting worse and worse.” “The foreigner doubts the long term of Argentina, “and if 10 points of investment GDP are not recovered, the country has little chance of developing.
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