The blue dollar closed unchanged at $745

The North American currency maintains a gap above 110% with respect to the official exchange rate, which has been set at $350 pesos since the week after the PASO.

In this way, the parallel dollar is ten pesos above what it closed in August at $735. An advance of just 1.3% so far in September.

Regarding financial dollars, there was a slight increase in both the MEP and the Cash with Liqui.

Regarding the MEP, it rose one peso and closed at $682.43 and continues to be the cheapest dollar without limitations to dollarize portfolios.

Meanwhile, cash with liquid fell 1.3% and increased about seven pesos since Friday’s close to reach $763.33. In this way, it remains the most expensive dollar on the market above the blue.

Key week for Cash with liquid

This week will be key for this price since the soybean dollar ends at 4, and it will no longer receive a daily offer of 25% of the soybean liquidation, which kept its price at bay.

In the first days of September, the Government announced the entry into force of a new agricultural dollar.

Unlike previous programs, which were characterized by establishing a differential exchange rate, on this occasion agro-exporters had the option of selling 25% of the settlements in the financial market.

Starting next week the price will not have this offer of dollars and it is speculated that the price will receive much more pressure. Signals from the Government are expected to see what decision it will take, since the CCL and the MEP usually rise hand in hand and this is followed by a reaction from the blue.

It will be a sensitive October when it fully enters the last three weeks ahead of the general elections and historically the currency already has pressure from hedge purchases.

The wholesale dollar remained at $350.05, a value that, according to the BCRA and can be seen in the corridors of the Treasury Palace, would remain that way until after the elections and some risk it until after a possible runoff, to unfreeze later and resume the rhythm of devaluation hand in hand with the crawling peg.

Meanwhile, the Qatar dollar – which includes 30% of the COUNTRY tax, 45% deductible of the Income and Personal Property Tax, and a new collection of 5% on account of Personal Property – was quoted at $660.56.

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Peggy McColl

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