Massa ruled out a devaluation after the runoff: “There is an agreement with the Fund”
The Minister of Economy explained why there will not be an exchange rate jump after the elections, based on an agreement with the international organization regarding the evolution of the official dollar
Among several announcements, the Minister of Economy, Sergio Massaruled out this Sunday the possibility of a jump in the price of the official dollar for after the second electoral round on November 19, where he will compete with Javier Miley to define the next president of the Nation.
The Central Bank used USD 4,000 million since the beginning of the year to keep the MEP dollar under control
The monetary entity intervenes in the secondary bond market to put a ceiling on the stock price of currencies, now below 900 pesos
In the Government, and the analysts, consider that the price of the free dollar gravitates to the mood of the electorate and, given the current capital control, it is the alternative price to the fixed official dollar since August that sets the tone for the saving capacity of those who maintain and generate a monetary surplus, with a bill that always serves as a defense against dangerous processes. of inflationary spiralization and devaluation.
The free dollar was at 925 pesos
He free dollar The week starts at $925 for sale, the dollar cash with settlement at $872 and the dollar MEP at $853 per unit.
The Central Bank bought USD1 million in the exchange market on Friday and accumulated a positive balance of USD 284 million last week.
The week in which the dollar fell: the free price lost almost 7% and was further away from its record
The currency traded in the informal market lost 65 pesos and closed at 925 pesos. The BCRA bought USD 288 million in the market. The S&P Merval subtracted 2.8% in pesos and 3.4% in dollars
Key dates are approaching for Argentina’s economic future and, given the context of instability, the Government’s strategy focuses on keeping alternative dollar businesses calm, two weeks before the second presidential round.
Financial day: bonds rose, stocks fell and the free dollar stabilized
Global bonds gained 0.5% on Wall Street. The S&P Merval fell 2.6%, to 637,284 points. The free dollar ended without variations at $925 and the BCRA bought only USD 1 million in the market
Argentina’s sovereign bonds ended with improvements this Friday, while stocks fell selectively due to position adjustments for possible scenarios after the presidential runoff that will take place in a few days. On the other hand, an unusual exchange calm extended to the free quotes of the dollar, a scenario that the Government plans to maintain until the elections, given a series of inspection operations that have been taking place in offices in downtown Buenos Aires.
The post first appeared on www.infobae.com