The announcement of the principle of agreement between the Government and the IMF (International Monetary Fund) generated positive repercussions in sectors such as politics and business, but also within the market and its values. In principle, what stood out the most was the strong drop registered by the Dolar blue.
In yesterday’s session, according to the values estimated by the parallel market, informal currency had reached a new all-time high after closing at $219.50 to buy and $222.50 to sell. On this occasion, After the announcement, the Dolar blue back about $10.
Source: (IP News)
Nowadays, the parallel currency offered at $209.50 to buy and $212.50 to sell. In just one day, the Dolar blue He erased nearly everything he had accumulated in the last eight days. In addition to accumulating a low of $6.50 between Monday and Friday, it managed to touch its lowest value in a week.
As a result of this large slowdown, the gap with the wholesale exchange rate (regulated by the Central Bank of the Argentine Republic) was reduced to 102.7%. In the previous one, financial analysts had warned that the news regarding the agreement would be key.
Source: (eltwelve)
Optimism was reflected in the market
After the announcement, which was made by President Alberto Fernández, those who also registered decreases in their values were the financial dollars. According to the latest updates, the Contado Con Liqui (CCL) trades at $226.44 and the MEP or Bolsa at $215.44.
On the other hand, JP Morgan’s country risk slowed down almost 70 points in just a few hours and even managed to reach its lowest level in more than two weeks. In line with the foreign exchange market, this drop was 3.5% to 1,845 basis points for Argentina.
In recent weeks, due to the uncertainty regarding the negotiations with the IMF, Argentine assets had suffered sharp declines. However, after the agreement, shares and different bonds increased up to 9% in the Wall Street market.
Among the stocks traded in dollars, the increases in the banking sector for Banco Francés (9.8%), Banco Macro (+8.1) in second place and then Grupo Galicia (+7.2%) stood out. In turn, Central Puerto (+8%), YPF (+7.2%) and even IRSA (+7.2%) also grew.
