“Blue dollar” in Argentina: find out here what its price is today, Monday, November 15, 2021

The stock market in Argentina reacted cautiously this Monday as the price of the “blue dollar” opened relatively stable and bonds with moderate optimism, after the defeat of the ruling party in the legislative elections this Sunday.

The S&P Merval index of the shares of the leading companies that are listed on the Buenos Aires Stock Exchange rose 1.2% this Monday at 11:09 local time (13:09 GMT) to then cut the gains and fall 2.45% at 11:39 local time (13:39 GMT), at 92,628.74 points.

Meanwhile, Argentina’s country risk index fell 1.9%, to 1,714 basis points.

Meanwhile, the so-called “blue dollar” increased one peso in the parallel market, to 201 pesos per unit for sale, after having led an escalation in the weeks before the elections.

Nor was an exchange rate jump in the price of the dollar observed in the interbank market, where operations are very limited by various restrictions imposed by the Argentine authorities and regulated by the interventions of the Central Bank, which advanced nine cents in the first positions this Monday , at 100.31 pesos per unit for sale.

“The elections do not change the mood of the market,” said analyst Salvador Di Stéfano in a report.

“The Government has not taken note of the problems it has in economic matters. He considers that his problems derive from the inheritance received and the pandemic, “he added.

Analysts focus on the economic deterioration observed in the low level of reserves in the Central Bank, the gap of around 100% between the official dollar and the parallel, the annual inflation of 52.1%, the monetary issue to finance the treasury and the delay in the agreement with the IMF.

Defeat in the elections

This Sunday mid-term legislative elections of the Alberto Fernández government were held and, according to the provisional count, the ruling party has been more than 8 points below the main opposition force, Together for Change; it has practically equated the number of seats in Deputies with that coalition and has lost its own quorum in the Senate.

After knowing the defeat, the president of Argentina, Alberto Fernández, called to “prioritize national agreements” in the “new stage” that is opening for the country and indicated that “it is time” to solve the problem derived from the 44,000 million dollars of debt contracted by the Government of Mauricio Macri (2015-2019) with the International Monetary Fund (IMF).

With information from EFE