:quality(85)//cloudfront-us-east-1.images.arcpublishing.com/infobae/L6ILQWPOOBADJLKSVVALZ7ZEEY.jpeg "Dollar live today: the free quote is 7 and the “cash with liquid” is close to 0")
The free dollar returns to 377 pesos
The “blue” dollar price recouped the two pesos it had lost in the morning and returned to $377 on the sell side. The currency remains at the same value as Tuesday and registers a rise of two pesos so far in March. Meanwhile, stock dollars are easing their uptrend a bit, with cash with cash at $396 and MEP at $382, after hitting midday highs of $398 and $386, respectively.
Fixed term: Accelerating inflation caused savers to lose against prices for the first time since November
The term deposit rate has been maintained at 75% annual nominal since September. The yield has rivaled monthly inflation since then, but the February data was higher than the 6.16% that fixed terms are accumulating in 30 days
The data of inflation February, 6.6%, marked a sharp acceleration in the rate of progress of the general price level and ended the brief period during which the bowl of interest of the deposits A determined time beat inflation.
Lower the “blue”, but raise the “liqui”
Dollar prices alternative to “stocks” trade unevenly on Wednesday, with a free dollar subtracting two pesos, at $375 for sale – the same value at the end of February – and a bullish trend in the stock market.
The “cash with settlement” via the Global 2030 bond (GD30C) in ByMA rises to $397, to again approach the $400 threshold, while the MEP dollar with the Bonar 2030 (AL30D) rises to 384 pesos.
With a wholesale dollar trading at $202.53 (up 46 cents), the exchange rate differential with the free dollar is reduced to 85.2%.
Inflation data forced the Central Bank to review the management of the official dollar and the interest rate
After six months without modifying it, the monetary authority will raise the key rate again and assess how far to accelerate the rate of devaluation to avoid a greater lag in the exchange rate.
Last month’s inflation data released yesterday, at 6.6%, confirmed the collapse of the precarious equilibrium that had been reached towards the end of last year in monetary policy. While January’s CPI was already putting the need for interest rate adjustment back on the table at the Central Bank, February’s balance sheet combined with anticipation and preliminary data for price developments in March, confirms that tomorrow the monetary entity will raise the interest rate again, after six months of keeping it unchanged.
Dollar Debt Not Rebounding: Currency Shortage Weighs More Than ‘Election Trade’
An external climate of greater uncertainty and volatility is also influencing, which has had a negative impact on all emerging assets. No clear signs of recovery in sight, with prices nearing $30
Argentinian bonds missed the “quarter of an hour”. The euphoria of the close of 2022 and the start of this year was left behind and they were rapidly losing strength. Fears of further rate hikes in the US and the bank run that hit North American regional banks dealt a further blow to it and the rest of emerging market debt. But also, investors are watching with concern that it will be a very difficult year due to the shortage of dollars, affecting expectations for repayment of hard currency debt.
The central bank’s dilemma: if it raises rates, it will also make its own debt more expensive
The monetary authority’s voluminous earning liabilities, the passes and the Leliq, would be even larger if it decides to raise rates as a means of containing inflation.
Inflation of 6.6% was not expected even by the most pessimistic. The positive side is that this number could have been changed downwards and no one would have noticed, which gives credit to the INDEC.
The free dollar remains at 377 pesos
The currency exchanged on the informal market is offered without variations on Tuesday, at 377 dollars for sale. He free dollar It is up two pesos so far in March and brings the gain to 31 pesos or 9% since the start of 2023.
With a dollar wholesaler which is now up 29 cents to $202.15, the exchange difference is 86.5%.
The dollar counted with liquidation dropped a peso to $392 while the MEP it fell two pesos to $377.
Shares of US banks soared as much as 35% yesterday on Wall Street after the panic that generated the fall of Silicon Valley Bank on Friday. The S&P Merval sank 12.1% in 4 days.
BCRA sold $145 million yesterday. Due to the inflation data, the interest rate could be raised further this week.
Financial day: the Argentine stock market was isolated from the rebound of Wall Street and accentuated its decline
The S&P Merval fell 2.1% in the fourth straight streak of losses. Dollar bonds rebounded slightly and country risk fell below 2,300 points. BCRA sold 145 million USD to MULC
Finally, the Inflation in Argentina has again exceeded 100% annually after more than three decades. INDEC reports that the CPI for February reached 6.6%, with an increase of 102.5% compared to the same month in 2022. This bad “macro” data was associated with a financial responsewith the fourth session bearish for equities and the seventh session negative for the Central Bank, which continues to sell liquid reserves in the foreign exchange market.