The Dollar Live Today: Free Price Rises to $381 and Exchange Rate Spread Reaches 98%

This Tuesday, more details of the negotiations that the government was facing with the banks were known, to finalize a loan or a REPO with fresh funds from the entities. Seven offers have been received and it is estimated that the amount of the loan could exceed 1,000 million dollars, the figure initially planned, with an interest rate that would be less than 10% per annum, an affordable cost for Argentina given the country risk close to 2,000 basis points.

The “blue” course of the dollar gained two pesos on Tuesday, to 381 dollars for sale. Informal money thus returned to the level it had at the end of January. In this sense, it should be remembered that in the previous three months, the “blue” dollar rose well above inflation levels.

With a big dollar gaining 40 cents at $192.05, the currency spread is 98.3%.

Dollarization: point of arrival or point of departure?

Monetary regime change becomes more emotional than rational, as personal disqualifications arise for those who think differently

In 2018 and 2019, we organized with Jorge Avilarenowned and prestigious economist, two debates at UCEMA on dollarization, in which he also participated Alejandro Estrada. In both cases with the full auditorium plus transmission on linewhich showed that at that time there was already great interest in the subject, so it is not new in the Argentine economic debate.

How is the hard-watching economist Javier Milei’s Argentina dollarization plan

This is Emilio Ocampo, a university professor with a long career in investment banking. He proposed a program that skips the coin competition stage originally raised by the Liberal MP

Since confirming his desire to run for president in this year’s elections, the national deputy Javier Miley confirmed on several occasions that, if he reaches Casa Rosada, he will call a popular consultation with the aim of obtaining the necessary support to go ahead with his idea of ​​​​eliminating the central bankwhich would eventually lead to dollarization.

The economics team is facing one of the toughest weeks in three months, ahead of an inflation announcement that will heighten market tensions. Since the beginning of the year, the Central Bank has continued to lose reserves and the market is beginning to consider the difficulties the government will have in reaching the reserve accumulation target set for March.

He free dollar it gained two pesos on Monday to hit $379 to sell, reducing the loss since early February to two pesos. Recall that the currency closed January at 381 pesos on the informal market. In 2023, the note offered on the informal market accumulates an increase of 33 pesos or 9.5%.

The dollar counted with liquidation remains at $370 while the MEP raised a peso to 355 per unit.

He central bank sold $48 million and racked up a negative balance of nearly $500 million for the month.

Argentinian ADRs climbed as much as 9% on Wall Street. Dollar bonds fell 2%. US bond yields climbed to 6-week highs awaiting inflation data.

He BCRA completed the first big wheel of the week with sales for $48 million to meet market needs, in a session with cash (cash) business for only $ 168.6 million. Thus, the entity contributed 28.5% of the currencies offered on the market.

While Wall Street gauges ended with gains in the 1.1% to 1.5% range, the index S&P Merval of the Buenos Aires Stock Exchange closed with a up 3.1% to 257,625 points. Thus, the panel of flagship stocks maintains a rise in the peso of 27% in 2023 and remains above the psychological barrier of 250,000 points, considered as short-term resistance for the indicator of the Buenos Aires Stock Exchange.