It’s nothing new. The increase in the blue dollar causes great uncertainty in Argentines, mainly in those who bet on the North American currency as a savings method. In this context, in San Juan it closed at $1,420 and set a record in the province.
Given this scenario, three economists from San Juan offered recommendations. There were coincidences. As a first suggestion, they advised not to buy dollars and wait for the resolution of the Bases Law in the national Congressand secondly, they made known what is the most viable alternative to save.
Mariano Cáceres and Luis Aveta proposed the linked dollar or Lecap as a tool to combat the devaluation of the peso. These are bills or bonds from the National Treasury, which pay a capitalizable income monthly until the maturity date. “It offers rates 15 and 20 points higher than the fixed term. At least, savings are insured and money can be earned,” said Cáceres.
Aveta pointed out that the linked dollar works with the value of the official North American currency -$928 for sale-. In the event of a devaluation of the peso by the national government, a probable event if the Base Law is approved, the economist stated that they should make a profit.
Another alternative also emerged. Eduardo Coria Lahoz spoke of the Common Investment Fund to face exchange rate uncertainty. “It allows the saver to be covered from devaluation and inflation,” he declared.
The three economists provided advice when choosing these tools. They advised talking to a financial advisor. These specialists will present the best possibilities for opening accounts with brokers, brokerage companies or virtual applications.
Advice for professionals and traders
“You have to bet on long-term instruments, capable of generating profitability,” said Aveta. He spoke to merchants and professionals. If you have a business, he recommended stocking up, and he called on professionals to urgently purchase supplies.
The expectation for the Bases Law
“The rise may calm down with approval,” said Cáceres. All the economists consulted recommended not buying the parallel dollar given the possible approval of the official law in Congress.
The increase in the informal currency occurred due to this scenario full of speculation that caused currency runs, they pointed out. “It is not the best time to buy. The current numbers are the maximum values,” said Coria Lahoz.
Calm would come if the law is approved. They expect a drop in the blue dollar due to the reactivation of investments thanks to the RIGI, the increase in GDP due to the modifications in the Income Tax, the tax reduction -mainly the PAIS Tax- and money laundering.
