The CCL dollar cut its streak of three straight runs (tourist dropped for the first time in two months)

On the other hand the dollar MEP, the Bolsa -similar operation to that of the CCL but within the country- rose 83 cents to $ 116.72, leaving a gap of 61.7% against the currency listed on the MULC.

With these variations, the CCL accumulates an increase of 13.6% in the month, while the MEP exhibits an increase of 16.1%, figures considerably higher than the monthly rise in blue, which so far is less than 7% .

Meanwhile, the market awaits signals around the sovereign debt restructuring proposal that expires next week (Tuesday, August 4). For now, far from reaching the necessary majorities, the Government is analyzing the possibility of announcing a new extension to August 28. Concrete definitions of restructuring are “necessary to define a trend” of the market, they emphasized from Personal Investment Portfolio.

Beyond the debt issue, traders remain concerned about the risks associated with a strong monetary issue, especially in the post-pandemic, on the dynamics of inflation and the dollar.

Official dollar

In a rare event in recent times, the tourist or solidarity dollar closed for the first time since the beginning of June, when it lost five cents at $ 98.88. It happened from a decrease of four cents in the retailer average, culminating at $ 76.06, in agencies and banks of the Buenos Aires city, according to a survey of Ambit.

At Banco Nación, the ticket -without the COUNTRY tax- ended stable at $ 76, while on the electronic channel it was achieved at $ 75.95.

For his part, in the Single and Free Exchange Market (MULC), the currency increased six cents to $ 72.20, in line with the value set for this day by the BCRA, which ended with a selling balance of about $ 20 million, according to market sources. So far this month, accumulate a indentation of reserves close to u $ s400 million, a worrying fact considering the important current restrictions that limit demand.

The highs of the day were recorded at $ 72.20 since the beginning of the session, and they coincided again with the upper bound of the fluctuation band set by the Central. In another low turnover round, authorized demand slightly prevailed in the development of operations, absorbing all available private supply and demanding new official sales to supply the shortage of foreign exchange.

The volume operated in the cash segment it rose 14% to a meager $ 160.3 million.

During the day, the monetary authority announced that It will extend the current restrictions for the access of companies to the official exchange market for a further month, as established in Communication A 7030 and its updates.

The BCRA also indicated that it will include “a new facility so that outstanding obligations for imports guaranteed by financial entities can be canceled.”

The decision was approved on Tuesday in the Commission and will be ratified this Thursday at the Board meeting, said a statement from the BCRA.

Anyway, he knew Ambit, at the Central they are analyzing for these hours to back down with some of the flexibilities that had been granted to the private sector to access the official dollar in recent months.

Future Dollar

In the ROFEX futures market, the dollar at the end of the month remained unchanged at $ 72.31, with a rate of 27.8%, while for the end of August it rose to $ 74.61, with a rate of 36, 92% TNA. The price for the end of the year closed at $ 86.23, with a TNA of 45.76%.

On the day, $ 501 million were traded, and open contract positions totaled $ 4.52 billion.

With the values ​​observed in the futures market at the end of the year, together with the (disproportionate) relationship between international reserves and the BCRA’s monetary liabilities, the question the market is asking is not whether or not there will be a devaluation of the change, but how and when it will happen. “The answer is unknown. Although it should be after closing the debt swap, and done gradually, in order to avoid a strong impact on the price level,” commented the director of Rafaela Capital, Fernando Camusso.

For now, “The BCRA seems to have no problem in maintaining this status of stocks, plus restrictions on the payment of imports, generating a currency split without bleaching, to the detriment of international trade and the generation of such vital commercial dollars”, Camusso completed.

Blue Dollar

In the informal segment, the blue dollar cut a streak of two consecutive losses, and closed stable at $ 135, after operating for much of the day at $ 134, according to a survey by Ámbito en cuevas del Microcentro Buenos Aires.

The parallel ticket goes back $ 4 so far this week, after reaching an intraday peak of $ 140 last Friday.

Over the past week, the blue it had accumulated a jump of $ 9 before the blockades of bank accounts in dollars on the part of banks before “unusual movements”, made by the “digital collectors”, who then used the informal market to carry out the “pure” (buy in the official and sell in parallel taking advantage of the existing exchange gap).

In this way, the gap with the wholesale dollar ended at 87%, after touching 95% on Friday, and reaching a maximum of 104% in mid-May.

Since the quarantine started, the blue accumulates a hike of $ 49.50 (from $ 85.50 on March 20), product, among other causes, of greater restrictions to operate, not only in the Single Market and Free of Exchange, but also for operations with the CCL dollar and the MEP.

Bookings

Finally, due to BCRA sales, the Bookings International gross fell u $ s20 million to close the day in the u $ s43,388 million.

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