The MEP dollar and CCL registered their third decline in a row due to a greater inflow of agricultural currencies

Financial dollars fell for the third consecutive round this Wednesday, May 8given the market’s expectation that the liquidation due to the thick soybean and corn harvest will intensify this week.

Under this scenario, the CCL dollar fell 1.7% and was located in the $1,076.02for which the gap with the officer he descended to 22.9%.

For its part, the dollar MEP fell 0.9% at $1,038.77. In this case, the spread with the wholesale exchange rate it stands at 18.6%.

In the informal square, the blue dollar operated stable at $1,040according to a survey of Ambit in caves of the City.

After the expected delays due to the climate issue, in the end “the pace of settlements would be accelerating, which would allow in the coming weeks to boost BCRA purchases and thus the reserve accumulation process,” commented a market operator.

Given this, it is that financial dollars are once again under more pressure from the “blend” offer (income scheme, 80% to the official, and 20% to the CCL), a dynamic that would last for the next two months and would extend the exchange rate calm beyond the successive rate cuts, They believe in tables.

“Exchange controls are maintained because they allow the Central Bank (BCRA) to accumulate reserves and at the same time, control both the nominal exchange rate for commercial operations and the exchange rate called CCL,” said former Economy Minister Domingo Cavallo.

“The accumulation of reserves is achieved because “Exporters are obliged to sell the dollars they generate to the central bank and the central bank decides, in practice, how many dollars it will sell to importers,” he noted.

The BCRA accumulates purchases of dollars in the market for 589 million during May, after adding 3,348 million dollars in April and exceeding the line of 15,000 million dollars during the previous week.

Economist Rodrigo Álvarez estimated that “the stocks (exchange controls) are here to stay for a long time” and estimated that “the Government is using the exchange rate as an (inflationary) anchor.”

How much is the official dollar trading at today, Wednesday, May 8

In the official exchange market, the wholesale dollar rose $1 to $881.50.

How much does the future dollar trade at today, Wednesday, May 8

The contracts of future dollar At the end of May they fell 0.4% to $903, while for June they fell 0.3% to $931. By the end of the year, meanwhile, the price fell 0.4% to $1,170.50.