Dollar today live: the free quote rises to $1,045 for sale

Dollar today live: the free quote rises to $1,045 for sale
Dollar today live: the free quote rises to $1,045 for sale

According to Álvarez Agis, the government would come out of the trap in the last quarter of this year

The economist and director of the consulting firm PxQ, who was vice minister of Economy under Axel Kicillof, said that the current economic program is based on socially unsustainable salary and retirement levels. What “coin competition” is Milei betting on?

In a presentation organized by Portfolio Personal Investments (PPI), Emanuel Álvarez Agishead of the consulting firm PxQ and former vice minister of Economy, painted a macroeconomic picture that is very difficult for the government to resolve, which he technically defined as “dynamic inconsistency,” since the economy carries conditions that it will not be able to sustain over time.

Commercial debt for imports totaled USD 11,000 million since December

Although the flow began to normalize, the restriction on payments abroad explains a large part of the BCRA’s reserve purchases. The strategy to get out of the trap

Since December 13, commercial debt grew by USD 11.1 billion. EFE/Demian Estévez

Since he took over Javier Milei the commercial debt for imports of goods grew by more than USD 11,000 million and explained a large part of the purchases made by the Central Bank of the Argentine Republic (BCRA). This data does not take into account the USD 42.6 billion left by the Government of Alberto Fernandez and that in part they began to be postponed with the Bopreal.

The free dollar rises to 1,045 pesos

The “blue” price of the dollar gains five pesos this Monday, to trade at $1,045 for sale. The currency reaches the same value as at the end of April. In 2024 it will rise only 20 pesos or 2%, against accumulated inflation above 60 percent.

The drop in rates changed the rules of the game: CER bonds were reborn and loans in dollars grew 55 percent

A week of caution is expected. Investors are as pending as the Government on the approval of the Base Law and the fiscal package

The session in which Deputies gave half sanction to the “Bases law.” The market cautiously awaits the Senate vote (Adrián Escándar)

Since the half-sanction given by the Chamber of Deputies to the National Government’s “Bases Law” project, sovereign bonds, which accumulated increases of 10% on average in April, remain stable and the composition of portfolios has also changed.

Face in dollars: fewer and fewer Brazilians and Chileans come to buy in Argentina

In five months the purchasing power of visitors from neighboring countries fell between 38 and 42%. Causes and effects on tourism, the currency balance and consumption

International tourism continues to show a deficit for Argentina. (Bloomberg)

In the last five months there has been a decrease of between 38% and 42% in the amount of chileans and brazilians who come to Argentina to make their purchases. The phenomenon is due to a series of changes that have occurred in the local economy in recent months, mainly since the arrival of the new Government.

The wholesale dollar rises to 880.50 pesos

The first sales positions in the wholesale segment of the dollar this Monday mark a price of $880.50 per unit, two pesos above last Friday’s close. Since Javier Milei assumed the Presidency, the official exchange rate has recorded a gain of $516.09 or 141.6% from $364.41 (BCRA Communication A3500) on December 7, 2023, against accumulated inflation around 105% in the period.

In the last twelve months, the official dollar increased by 654.25 pesos or 289.2%, from $226.25 on May 5 of last year, against an accumulated inflation of 287.9% in the last year.

The Government expanded the scope of the PAIS Tax to the payment of dividends, transfer of profits and Bopreal subscriptions

The recent presidential decree extends the tax on foreign currency purchases for the repatriation of profits and subscription of special bonds, citing the objective of stimulating national investment and ensuring a sustainable fiscal path

Facade of the central bank of Argentina, in the City of Buenos Aires (Reuters)

In a move that seeks to adapt fiscal policies to the demands of the current economy, the Argentine Government expanded the scope of the Tax for an Inclusive and Solidarity Argentina (COUNTRY). Decree 385/2024, published today in the Official Gazette, establishes the application of the tax both for the purchase of foreign currency intended for money transfers utilities and dividends, as for those who subscribe to the Bonds for the Reconstruction of a Free Argentina (BOPREAL).

Since December, the BCRA bought USD 15,000 million, but retained less than half of it in reserves

In five months the entity made net purchases for USD 15,046 million in the wholesale market and the stock of reserves grew by USD 7,166 million. What slows the accumulation of international assets

Since the December devaluation, the BCRA absorbs more than half of the supply in the exchange market (Europa Press)

Since Javier Milei assumed the Presidency of the Nation, with Santiago Bausili At the head of the monetary authority, the entity bought more than half of the dollars that the private sector liquidates in the exchange market.

The free dollar was at 1,040 pesos

He free dollar closed unchanged Friday at $1,040 for sale. The Central bought USD 144 million and has accumulated USD 15,000 million since December. President Javier Milei He denies that there is an exchange rate delay and criticizes those who ask for devaluation. The government extends the PAIS Tax (with a rate of 17.5%) to the purchase of foreign currency for the payment of dividends and profits and for the subscription of Bopreal.

The Stock Market rose 10% in dollars and Argentine stocks lead global gains in 2024

The S&P Merval closed at 1,452,002 points, a new nominal record, after the approval of the Bases Law in Deputies and the lowering of rates. In four operating wheels it advanced 13.5% in pesos and 9.8% in dollars. Bonds stabilized, but are still close to maximum values. The BCRA bought USD 590 million

Argentine ADRs recovered the 2018 price level on Wall Street (REUTERS/Brendan McDermid/File Photo)

After more than 29 hours of debate, the Chamber of Deputies approved on Tuesday the 30th the Base Law and the fiscal package sent by the government of Javier Milei to Congress, a victory that, although it has to be consolidated by the Senate, gave a powerful boost to Argentine stocks throughout the week, both in the local market and abroad.

Financial day: the stock market rose 6%, broke another record and ratified the market’s support for economic policy

The S&P Merval reached a new nominal maximum of 1,452,002 points, boosted by the advance of the Bases Law, the lowering of rates and the rebound on Wall Street. The BCRA bought USD 144 million in the market and the free dollar closed at $1,040 for the third day in a row

Argentine bank shares rise between 70% and 110% in dollars in 2024. (REUTERS/Agustin Marcarian)

The expectation for the possible approval of the Base Law in Congress and a new drop in rate reference set on Thursday by the Central Bank catapulted the share price this Friday Argentina, in the face of institutional purchases that seek to gain a few points on inflation and with the extra boost of increases of up to 2% in Wall Street indices.

 
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