What is the BLUE DOLLAR quote TODAY, Friday July 3, 2020

In the last round of the week, the exchange market behaved on the rise in its official segment. Meanwhile, the blue dollar fell 2 pesos to $ 127, and financial prices fell slightly.

In this sense, the MEP dollar registered a 1.4% drop and operated at $ 105.79, while the cash with liquidation fell 1.1% to 108.55.

For its part, the wholesale dollar added 6 cents and was placed at $ 70.64, the price at which the Central Bank (BCRA) raised its record of $ 50 million in the MULC.

This occurred in the midst of restrictions on buying the $ 200 for savings imposed by the Central Bank and while the Government continued advancing in the negotiations to close the debt swap with private creditors.

In addition, investors looked closely at the stock quotes, which try to be contained with the new restrictions imposed by the National Securities Commission (CNV).

As noted above, the Dolar blue It was listed at $ 127 in caves in the Buenos Aires downtown.

At official retail market, the North American currency closed at an average of $ 74.32 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, it sells for $ 96.60.

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: $ 75

– Nation: $ 74

– ICBC: $ 74.20

– Supervielle: $ 74.50

– Santander: $ 74

– HSBC: $ 74.15

– Itaú: $ 74.30

He Dolar blue, which was located at $ 127, 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 the operations in the parallel market, where users seek to avoid the cap of $ 200 per month for savings.

For his part, the risk country Argentina is located at 2,544 basis points.

What is the record number that Argentines keep dollars in deposits and bills

Argentines accumulate record of $ 222,807 million, Declared or not before the AFIP, in deposits abroad, in local banks and in banknotes in the “mattresses” and safes, as indicated by the INDEC data for the first quarter of this year.

They are 72,254 million more than those at the end of 2015. And 150,043 million more than in 2006.

According to the Indec report, during the first quarter of 2020, this accumulation did not stop as it grew by US $ 1,850 million: it went from US $ 220,957 million in the fourth quarter of 2019 to u $ s222,807 million. The bulk of that amount is banknotes in safes or on the mattress, declared or not.

However, this total does not include bonds and stocks in foreign currency nor the properties that Argentines have abroad.

If these assets of Argentine and Argentine companies are considered, it totals 322,636 million dollars, a total almost similar to the national public debt that at March 31 was $ 323,381 million, according to the Clarín newspaper.

The Argentines accumulate the record of 222,807 million dollars

Dollarization, capital flight and growth of public debt

Those deposits and bills under the mattress were fed by the dollarization and “capital flight” which, in turn, were financed with the surpluses of foreign trade and with more debt. For this reason, there is a very close correlation between dollarization, flight, value of the dollar, assets abroad and growth of public debt.

In recent years, this process it was almost constante and had some spikes. For example, between 2007 and 2011 dollarization (“formation of external assets”) totaled US $ 79,007 million, fueled by the international crisis of 2008/09 that had a negative impact in Argentina, and by the crisis with the countryside .

In order to stop the drainage of foreign currency, which in the previous two years had been a record (more than US $ 30,000 million), the Government of Cristina Kirchner imposed in October 2011 the “exchange stocks” from which the leak slowed but remained active because the dollars outside the system continued to increase through the official sale of “dollars-savings”, which were later turned to the parallel circuit of the “blue-dollar” and other mechanisms (« with liqui ») towards the mattress or abroad, including tax havens.

This drainage of national savings was financed with the dollars that entered for the surplus of the foreign trade and with more debt, especially with the Central Bank and public organizations, while declaring “debt”.

The public debt (internal and external) It took a strong leap: at the end of 2001, public debt was $ 141.3 billion. After the 2005 swap, it dropped to $ 125.4 billion and at the end of 2015 it was $ 240.665 billion, almost double.

During the government of Mauricio Macri dollarization and capital flight reached US $ 86,199 million, which was financed with more debt, including that contracted with the IMF.

What do Argentines do with dollars?

In those four years, the public debt increased by US $ 82,400 million: it went from US $ 240,665 million to US $ 323,065 million, placing Argentina virtually in default, not without first imposing an exchange stock.

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