“Blue dollar” in Argentina: find out its price here today, Wednesday, September 29, 2021

The “blue dollar” it rose on Wednesday in Argentina on a day when the financial market was operating unevenly due to permanent rearrangements of short-term portfolios, amid fears about the next monetary movements in the United States and about local economic and political vicissitudes.

The electoral defeat of the Peronist government in the September primaries for the next legislative elections plunged the Cabinet of President Alberto Fernández into a political crisis that is affecting the variables of the economy.

“The harsh result obtained by the ruling party immediately began to arouse concerns regarding their reaction, not only political but also economic,” said Gustavo Ber, an economist at Estudio Ber.

Traders agreed that a large fiscal deficit financed with monetary issuance in the midst of an economy with high inflation sets off alarm signals in the market.

“September is the month with the highest monetary financing of the year (250,000 million pesos so far this month -about US $ 2,533 million-) and primary spending accelerates: + 65% year-on-year in August, the highest rise since September 2020 ″ Said settlement and clearing agent Neix.

He added that “the primary deficit so far this year reaches 432,000 million pesos.”

In the interbank market, the dollar appreciated a controlled 0.04%, at 98.70 / 98.71 pesos, in a place with permanent liquidity regulation by the central bank (BCRA) with sales or purchases of dollars of its Bookings.

The Government plans to close 2021 with an official exchange rate of 102.4 per dollar and businesses in the futures market showed levels of 123.90 pesos per dollar for March 2022.

For its part, the price of the so-called “blue dollar” rose to 187.5 pesos in the informal market in Argentina, maintaining a gap of 89.95% compared to the wholesale market.

In alternative markets, the dollar was trading at 177.5 pesos on the “Contado con Liquitación” stock market; while the “MEP dollar” rose to 176.5 units this Wednesday.

The leading stock index S&P Merval improved 1.43% to 76,892.19 units at 12:30 local time (15:30 GMT), after rising 0.16% the day before and hitting a historical record level of 83,923.24 points after the defeat of the ruling party in the middle of the month.

“Volatility is the order of the day, facing the legislative elections in November and after the failure of the ruling party in the PASO (primaries),” said Matías Roig, from Portfolio Personal Inversiones.

“We noticed that a lot of people are starting to reposition themselves in ‘Dollar Link’ assets. There is a renewed interest, especially, on the part of the companies, in view of the doubt that there may be an acceleration in the exchange rate. Even above the assets indexed for inflation ”, he added.

In this context, sovereign bonds in the OTC segment lost a slight 0.1% on average, led by the negative trend of more liquid dollarized issues. The Bonar30 benchmark remained balanced.

“Dollar bonds are rebounding after erasing all post-PASO gains, and in pesos CER bonds (adjusted for inflation) are mostly positive,” said Roberto Geretto, economist at Fundcorp investment fund.

The country risk measured by the JP.Morgan bank rose 12 basis points, to 1,609 units, after falling to less than 1,440 points, after knowing the electoral result favorable to the center-right opposition.