The dollar calculated with the settlement reached $900 for the first time in history

The demand for foreign currency through securities assets increased with the payment of salaries in the first tranche of October. In this aspect, the negotiations The dollar is calculated with settlement, which is obtained by buying and selling bonds on the stock market, which are operated in pesos and foreign currency simultaneously. For the first time, the exchange rate used to enter and withdraw foreign currency from the country reached $900 per unit.

he “Calculated by the questioner.” Which externalizes currencies, works on Wednesday More than $903 at the implied price in CEDRE. This rate, free of any official intervention, is thus decoupled from the dollar rate implicit in the 2030 Bonar rate, which was agreed at around $805 as a result of the central bank’s perpetual sales trying to calm the market.

And in another market without interference, and over the counter Sinibi – In which operations are agreed upon by mutual agreement between two parties and in which wholesale transactions are usually negotiated Cash with settlement It reached $894.11 in businesses that closed in Bonar around 2030.

In this way, this parity represents a new nominal maximum, although we must remember that it is not the maximum in real terms – that is, discounting inflation – for the year 2023, since 801 pesos last August 29 are equivalent to 908 pesos in 2023. The present, If inflation estimated at 12% in September is converted to prices.

On the other hand, business European Parliament dollar -Other financial dollar-, record the highest prices around 742 pesos Wednesday afternoon. These operations are preferably directed to the PPT (Priority Time) sector of the ByMA (Argentine Stock Exchanges and Markets) within 48 hours. The central bank also intervenes in this market, which delivers foreign currencies in exchange for public bonds. Through a client account or “securities”, savers can buy dollar bonds with their pesos – mainly Bonar 2030 (AL30)– And resell it at MEP to the dollar.

MEP dollar business in the PPT sector reached a record high of US$130 million last Thursday, August 10 with Bonar 2030 (AL30D) And the Global 2030 (GD30D). In recent days, with increased intervention by the Central Bank, business in European dollars has returned to pre-PASO levels and yesterday, Tuesday 3 October, transactions took place in this sector. 100 million dollars.

“Not only did the central bank set another record after the primaries, but the entity’s presence in the fixed income market touched the levels observed before the primaries. According to our numbers The BCRA sold $87.5 million in the latest round to contain European Parliament dollars ahead of the October general election. It should be noted that before the primaries, this maneuver amounted to values ​​​​that amounted to an average of $ 97.2 million per day. Personal portfolio investments.

“As dollars from the latest export stimulus plan lose momentum, and election uncertainty grows, the crisis will worsen.” The central bank will have no choice but to increase intervention to near-record numbers before learning of PASO’s surprise result. At the same time, as has happened since July, when the presence of the BCRA began to be felt more strongly in the bond market, actions continued to focus on the MEP dollar, without noting the cash entity number in “Cash with Settlement,” they added from the personal portfolio.

from her side, The exchange gap is close to 150 percent, a maximum that was also observed at the end of July. “At that time, after (Martin) resigned. Guzman And within a short pass of Silvina… Patakis By the Ministry of Economy Spread The exchange rate moved only five wheels above current levels, peaking at 160.8%, a record high for two exchange controls this century. The distance between the elections – there are still eleven rounds to go – and the marked deterioration in the political outlook makes us believe that this is so It is very likely that these caps will be exceeded“, they evaluated it from the personal wallet.