It is worth remembering that the financial markets will only function normally on Tuesdays and Wednesdays during this week due to the holidays commemorating the “Passage to the Immortality of General Martín Miguel de Güemes” and “Flag Day”, as well as the bridge with tourist purposes that was established for Friday.
A positive week for the Government brings calm to the markets
Between Wednesday and Thursday of last week the Government received two important “endorsements.” On the one hand, he got the swap renewal with China, which implies a saving of US$5,000 million for June and July, and, on the other, The Senate approved the Bases lawwith a package of liberal reforms well received by the markets.
Although it represented the first legislative victory of the Government of Javier Milei, the original project underwent a large number of modifications, which must be endorsed by Deputies.
In parallel, the IMF validated the review of goals of the agreement with Argentina and thus activated a new disbursement of US$800 millionINDEC announced the lowest monthly inflation data since January 2022 and this Tuesday the Ministry of Economy announced the fifth consecutive month with financial fiscal surplusachieved fundamentally by a sharp adjustment in spending and the contribution of the Income Tax.
Investors seek clarity on currency policy
While the Central Bank maintains the crawling peg in the order of 2% monthly for the wholesale exchange rate, a report from the International Monetary Fund (IMF) released on Monday indicates that the country committed to eliminating the export liquidation scheme under the ‘dollar blend’ modality, through which they can settle 80% of their currencies at the official price and 20% at the CCL, although the Secretary of Finance Pablo Quirno denied changes in the current scheme.
In a context of lower liquidations from exporters and an increase in the demand for foreign currency, the pace of Central purchases is at the lowest levels since Milei took office.with an average of US$1 million for the last five days and US$13 million for the last ten.
“The BCRA should explain what its monetary and exchange rate policy will be in the future, in order to lift the veil of what can happen in terms of investments,” said economic analyst Salvador Di Stefano.
After the aforementioned favorable economic data for the ruling party, investors’ eyes once again focus on political issues that give greater support to the Government to apply its policies.
“The attention of the week will continue in Congress, since after the approval of the Bases Law and the fiscal package in the Senate, both projects must be ratified by the Lower House to be converted into law,” said the compensation and Bridge iqidation.
How much the future dollar is trading at today, Tuesday, June 18
In the contracts of future dollarthe quote for the purposes of June ended unchanged at $916.50while by the end of July it gave up 0.2% to $951.50. End of August trimmed 0.1% to $992.50 and towards end of the year fell 0.1% to $1,185.
How much does the blue dollar trade at today, Tuesday, June 18
He blue dollar closed $1,305 for saleaccording to a survey of Ambit in the caves of the City.
Price of the dollar card today, Tuesday, June 18
He dollar card or touristand the dollar savings (either solidary) climbed $1,478.40.
Quote of the crypto dollar today, Tuesday, June 18
He crypto dollar or Bitcoin dollar operates at $1,286.38 according to Bitso.
