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Dollar today live: the free price falls to 995 pesos, at a minimum level so far in 2024 - Infobae
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Dólar hoy en vivo: la cotización libre cae a 995 pesos, en un nivel mínimo en lo que va de 2024
La divisa anota una baja de 15 pesos en el día y acumula una pérdida de 35 pesos o 3,4% en marzo, en un piso desde el 26 de diciembre. La brecha cambiaria se mantiene debajo del 20%, la más reducida desde diciembre de 2019
www.infobae.com
March 06, 2024
The currency recorded a drop of 15 pesos on the day and accumulated a loss of 35 pesos or 3.4% in March, at a low since December 26. The exchange gap remains below 20%, the smallest since December 2019
14:32 hsTODAY
The three factors that caused the fall of the free dollar below $1,000
The informal ticket is negotiated at $995, a minimum since December 26. From the record of $1,260 on January 25, it accumulated a decrease of $265 or 21%. The causes
The dollar was no longer a profitable alternative for savings.
In the last six weeks, a phenomenon was consolidated that had a strong impact on economic variables and, indirectly, on the real economy: the strengthening of the Argentine peso against the dollar, the traditional value haven chosen by savers.
13:15 hsTODAY
Since Milei took office, USD 2.2 billion have returned to the banks due to less uncertainty and tax convenie
The system is still the same as the USD 34 billion it had deposited in 2019, but at least the trickle of dollars from the second half of 2023 seems to have been interrupted. The year-end photo of Personal Assets played a role
The image of Benjamin Franklin on a $100 bill, on July 14, 2022, in Marple Township, Pennsylvania (AP)
Argentine companies and families returned dollars to the banking system after the arrival of President Javier Milei to the presidency. Between last December 7, the last business day of the previous administration, and the first day of March, the stock of private sector deposits in foreign currency rose by USD 2.22 billion. Politics and also the convenience of taxpayers when paying for Personal Assets can explain the change in trend.
12:45 hsTODAY
The free dollar drops to 990 pesos
The “blue” price of the dollar deepens the fall and is trading at 990 pesos for sale, its lowest price since December 21 of last year. The informal bill cuts 20 pesos on the day and extends the drop in the first section of March to 40 pesos or 3.8%. It must be remembered that on January 25, the free dollar scored - intraday - a nominal record of $1,260: since then it has sunk by 270 pesos or 21.4 percent. In addition, the exchange gap is consumed: with a wholesale dollar at $846, it remains at 17.2 percent.12:11 hsTODAY
The free dollar falls below 1,000 pesos
The “blue” dollar extends the drop this Wednesday to 15 pesos, to be offered at $995 for sale, a minimum since December 26, 2023. The informal bill registers a drop of 35 pesos or 2.7% in March. With a wholesale dollar at $846, the exchange gap is reduced to 17.6%, the lowest since December 13, 2019, when it reached just over 11 percent.11:49 hsTODAY
The market is concerned about a mountain of pesos generated by the Central Bank
The “puts”, insurance for banks that buy Treasury bonds granted by the BCRA, reached a stock of more than 16 trillion pesos, mostly placed during the current government
ByBloomberg
File photo: A person walks in front of the entrance to the building of the Central Bank of the Argentine Republic (BCRA) in the financial center of Buenos Aires, Argentina. September 16, 2020. REUTERS/Agustin Marcarian/File Photo
(Bloomberg) - The Central Bank accumulates potential liabilities that are beginning to worry the market. They are the puts that it delivers in each debt tender to make Treasury bonds more attractive and that, according to estimates, have already reached a stock that doubles the total money in circulation in the country and exceeds the monetary base.
11:47 hsTODAY
The big question in the financial markets: when will exchange rate unification arrive?
The decline in alternative dollars brings their prices closer to the official exchange rate and fuels operators' speculations
ByLuis Beldi
FILE PHOTO: A one hundred Argentine peso bill sits on top of several one hundred U.S. dollar bills in this illustration picture taken October 17, 2022. REUTERS/Agustin Marcarian/Illustration/File Photo
The Argentine markets are a planet of mixed emotions. What happens in the world partially affects them because local events have considerable weight in investors' weighting. That is why the collapse of the New York Stock Exchanges, particularly the Nasdaq of the technology companies that lost 1.65%, only affected stocks and to a lesser extent the Argentine debt bonds that followed the moderate downward pace of the securities. of emerging countries.
11:46 hsTODAY
Oblivious to the slide of stocks and bonds, the dollar remained lower and the exchange gap continues to narrow
Although they feel pressure from the Casa Rosada, the economic team assures that “there is still a long way to go” to eliminate the restrictions. But the difference between the official exchange rate and the free one is already at less than 13 percent and the time to remove the stocks is accelerating.
ByVirginia Porcella
View of dollar bills, in an archival photograph. EFE/Sebastiao Moreira
Oblivious to everything, the dollar continues its own dynamics impacted by the variable that most influences this stage of attempted economic stabilization: the inflow of foreign currency. It was not a good day yesterday for the financial market: shares suffered a sharp slide, almost a black Tuesday, from which the papers of energy companies, banks and those linked to construction such as Loma Negra were not spared. The falls averaged 4% and exceeded 8% as in the case of Transener. It was the biggest drop since the beginning of the year and it also had an impact on those companies listed on Wall Street although, in that case, the declines were more moderate. The setting was a hostile international context, in which Argentine bonds could not sustain the strong rise of the previous day, when they reacted positively to President Javier Milei's speech in Congress and took the country's risk to its lowest level in 30 months. . This indicator recorded a slight increase yesterday, from 1,590 to 1,617 basis points,
11:45 hsTODAY
Currency competition: to prepare the exit from the stocks, the Milei Government now points to the Peruvian model
The Central Bank cannot issue to finance the Treasury and it is also prohibited by law to apply exchange controls. The President reiterated that it would be possible to exit exchange controls in the middle of the year
ByPablo Wende
Gita Gopinath, the deputy managing director of the IMF, and President Javier Milei, in their last meeting in Buenos Aires
The experience of total dollarization of the economy that Ecuador carried out is no longer a priority for Javier Milei. In fact, the IMF itself had reservations about supporting a similar initiative by Argentina. For this reason, now the economic team is analyzing other schemes for exiting the exchange rate, based on other successful experiences in Latin America.
11:30 hsTODAY
The free dollar falls to $1,005 and the exchange gap is compressed
While the “blue” dollar falls five pesos this Wednesday, to $1,005 - a minimum price for 2024 -, the exchange gap is reduced again with the rise in the wholesale exchange rate (to $846), to remain at 18.8 %, the lowest since December 13, 2019.Juan Manuel Franco , Chief Economist of the SBS Group, observed “the main (bearish) basis is the flow with the 80/20 settlement scheme as the protagonist. Furthermore, the real exchange rate continues to appreciate, so you should liquidate sooner rather than later. Likewise, it must be considered that strict exchange controls continue and the recession affects lower demand.”
10:23 hsTODAY
The wholesale dollar rises to 846 pesos
The official exchange rate adjusted this Wednesday's increase to $846, with a gain of one peso on the day and 3.50 pesos so far this week. In 2024 the increase in the official exchange rate reaches 37.55 pesos or 4.6 percent.10:23 hsTODAY
The BCRA bought USD 84 million in the market and reserves rose to their highest level in six months
During March, official purchases reached USD 455 million, in its fifth consecutive month with a favorable balance. The international assets of the BCRA reached USD 27,751 million
The BCRA accumulates net purchases in the market for almost USD 9,000 million since December 11.
The amount traded in the wholesale market dropped more than USD 90 million compared to Monday, to about USD 297.4 million in the cash segment, which led to a reduction in the pace of purchases made by the Central Bank. The entity absorbed USD 84 million through its intervention this Tuesday, 28.2% of the offer.
10:23 hsTODAY
Milei told the camp that “freedom will allow you to be the engine of growth” and promised to lift the trap “as soon as possible.”
The President reiterated to agricultural businessmen that he hopes to lift restrictions on access to the dollar in the middle of the year, within the framework of Expo Agro, an event that takes place in the Buenos Aires town of San Nicolás.
Milei promised the agricultural businessmen to lift the trap "as soon as possible."
President Javier Milei participated this afternoon in the Expoagro agricultural exhibition that is taking place in San Nicolás, province of Buenos Aires. There he affirmed before rural businessmen that freedom will allow them to be the engine of growth in Argentina and promised to lift the stocks on the dollar "as soon as possible . "
10:20 hsTODAY
The free dollar fell to 1,010 pesos
The free price of the dollar seems to find no floor. After a collapse of almost 14% throughout February, this Tuesday it cuts five pesos, to $1,010 for sale, marking an extra drop of 20 pesos or 1.9% in March. The informal currency recorded an intraday nominal record of $1,260 on Thursday, January 25: since then it lost no less than 250 pesos, 19.8 percent.With a wholesale dollar at $845.50, the exchange gap is reduced to 19.5%, the lowest since December 13, 2019, when it reached 11 percent.
