:quality(85)//cloudfront-us-east-1.images.arcpublishing.com/infobae/RNPP5PRZLRP6WCNI42UP6QNRKE.jpg "Dollar live today: how much is it opening this Wednesday March 8 and what is the price minute by minute")
As the Argentinian peso is devalued, the region’s currencies appreciate
During the first two months of the year, the Argentine peso fell by 10.5%, due to the rise of the official dollar on the wholesale market, the evolution of which is regulated by the interventions of the Central Bank.
According to data from BloombergDuring the same period, the Chilean peso appreciated by 4.7% against the dollar, which means that the price of the American note fell in the neighboring country. The Uruguayan peso rose 1.6% and the Brazilian real 1.5%. Most striking is the significant revaluation of the Mexican peso against the US dollar: 7.7% since the start of the year.
The change in reserve target with the IMF calls into question the arrival of dollar 3 soybeans
A third edition of the special exchange rate for soybean exporters is still being analyzed by the economic team. What are they speculating on in the agricultural sector and how are the elections going and the possible change of direction at the end of the year?
Despite the delays, the economics team is already taking for granted the reduction in the reserve target set for this year in the agreement with the International Monetary Fund (IMF). The parties continue to finalize the details, but in the Economy they assure that the announcement is imminent. This will greatly ease the pressure to reach unattainable numbers, largely due to the drought that has wreaked havoc on the raw countryside. In any case, the big question hanging over the market today is whether this change in targets will be enough to avoid the third edition of the soybean dollar – something the Fund publicly advised against at the end of last year – or whether the government will proceed in the same way in this decision to have more air and not affect activity so much in an election year.
Debt-to-peso swaps have advanced a debate: who dares remove controls on the dollar after the election
The question is already debated in the economic teams of Together for Change. The technicians of the main candidates argue that this operation delays the deadlines for exiting the exchange restrictions
Although this is an issue that opposition economists are already analyzing, the discussions are not made public at this time. But the time will inevitably come when presidential candidates will have to address one of the most sensitive topics for the economy and the general public: is the exchange rate lock lifted or not after the election?
What are the variables that Argentina and the IMF are negotiating to approve the objectives for the first quarter?
The negotiation continued this week and within the government they assure that the declaration that defines the new objectives is “being drafted” for these hours in Washington
The negotiation between the government and the Monetary Fund which will define the scope of the change in accumulation goals reservations was this Tuesday at “writing phase”as they assured GlobeLiveMedia official sources. At the Ministry of Economy, they hoped to have concluded the agreement with the technical staff of the organization this week.
US Federal Reserve’s rate hike message hit markets and didn’t avoid Argentina
Jerome Powell’s announcement predicts his country’s monetary adjustment, with inevitable contagion to the rest of the world, will be bigger than expected
The sovereign bond market closes at 5:00 p.m., one hour before the stock market. This gap allowed him not to fully absorb the fateful announcement of Jerome Powell, the head of the Federal Reserve, who declared that interest rates will rise as much as necessary and that the adjustment will be more extensive than expected. On March 22, the Federal Reserve will meet and the majority (69% of traders) believe the rate will rise by half a point. Until a few days ago, less than 10% thought of such an increase; they bet it would be 0.25 points.
The free dollar is paid at 371 pesos
He dollar Traded on the informal market, it cut a peso on Tuesday to settle at $371 for sale. The free ticket maintains an increase of 25 pesos or 7.2% compared to $346 at the end of 2022, an increase well below inflation for the period, of around 13%.
The dollar counted with liquidation rose three pesos to $376 while the MEP it climbed five pesos to $367 per unit.
The ADRs of Argentinian companies listed on Wall Street fell on global market fears as the Federal Reserve anticipated another rate hike: YPF fell more than 7%.
He central bank ended Tuesday with a negative balance of $52 million.
BCRA sold USD 52 million on the market to cover import demand
The entity accumulates a negative balance for its foreign exchange stake of $133 million in March, which has increased to more than $1,200 million since the beginning of the year
The Central Bank ended the day with sales for $52 million on the wholesale market, to meet market needs, in the face of a meager liquidation of exports. In the cash segment (spot) 310.7 million dollars were operated.
Financial day: After sharp falls on Wall Street, Argentinian stocks lost up to 7%
After the statements of the President of the American Fed, who admitted to being “far from the mandate of price stability”, the Wall Street indices fell to 1.7% and the S&P Merval fell by 2.6%. The free dollar fell to $371 and the BCRA sold $52 million to the MULC
Argentina’s stock market traded with heavy losses on Tuesday, in line with declines on Wall Street, after the Chairman of the United States Federal Reserve (Fed), Jerome Powellsaid the US central bank is ready to accelerate rate hikes if the economics justify it.