Financiers caught the blue, rose and broke their nominal records

Hear

After the escalation that took place Dolar blue In recent days, today financial quotes caught the bullish trend and set new nominal records. There is a set of factors that in recent weeks have put pressure on the exchange market, which include the collection of the bonus, interest rates that lose compared to inflation and a low liquidation of agro-exporters.

This Wednesdaythe parallel exchange rate closed the day at $1365 in the caves of downtown Buenos Aires. It was the same value compared to the previous closing, although in the first negotiations of the day it reached $1,380. So far in June, this price has accumulated an advance of $140 (+11.4%).

In any case, when analyzing these values ​​in real terms (when adjusting for both local and international inflation), the blue is far from other recent crises. For example, the $1,100 you reached in October of last year is equivalent to $2,700 today. While the $195 of October 2020, would be $2,800 today, according to an analysis by Econviews.

“The second half of June, like the second half of December, are seasonally demanding of foreign currency in Argentina. The payment of bonuses, expenses and winter vacation advances is influenced by a difference in favor of the blue against the card and tourist dollars ($1,484.8 in Banco Nación), which are significantly higher. In addition, somewhat negative interest rates are added. All of this influences so that, in a market with little depth and liquidity like the bluethe lack of supply and the increase in demand are reflected in its price,” said Gustavo Quintana, operator of Cambios PR.

The dynamics of financial exchange rates are different. These quotes are influenced by the settlements made by exporters, since they can channel 20% of their cash sales with liquid (known as dollar blend), which adds supply to the market. Today, there was little volume of liquidations, which ended up impacting a rise in prices.

The MEP dollar through the purchase and sale of bonds GD30 closed on the capital market screens at $1332.13, a daily advance of $23.1 (+1.8%). He cash with settlement (CCL), tool used to transfer greenbacks to a bank account outside of Argentinaclimbed $28.5 and ended the day at $1,341.13 (+2.2%). So far this month, they have climbed $116.2 (+9.6%) and $93.7 (+7.5%), respectively.

The official wholesale exchange rate was quoted at $911 (+0.1%), and the gap with the cash with liquidation rate widened to 47.5%. The Government claims that this rate will continue to rise by 2% monthly, although doubts are growing in the market regarding the sustainability of this scheme adopted by the Central Bank in mid-December, after the official dollar rose from $365 to $800.

In the local stock market, the Buenos Aires stock market It advanced barely 0.2% and was quoted at 1,574,472 units, which when adjusted for cash with settlement was US$1,174. In the main panel, Sociedad Comercial del Plata (+4.2%), Cresud (+3.2%) and Ternium (+3%) stood out. In the opposite direction, the shares of Telecom Argentina (-2.2%), Grupo Financiero Galicia (-1.8%) and Transportadora de Gas del Norte (-1.3%) fell.

As for Argentine stocks listed on the New York Stock Exchange (ADR), today they operated in negative territory. The papers of Grupo Financiero Galicia presented a drop of 5.4%, followed by Take off (-5.2%), Southern Gas Carrier (-4.2%), Telecom Argentina (-3.5%) and America Corporation (-3.1%).

The bonuses From the last debt exchange they managed to cut the negative streak of the last few days and rebounded. The Bonares present increases of 1.47% (AL35D) and the Globals, of up to 3.35% (GD41D). That impacted the risk country, indicator that lost 11 units, to 1,429 basis points (-0.76%).