In recent days, the dollar Libre has seen a significant rise, surpassing $1,200 for the first time since October. This increase has occurred in a context of high seasonal demand and changes in the Central Bank’s monetary policy.
However, the Central Bank has decided to intervene to stop this rise and avoid higher levels of uncertainty in the market. The free dollar, also known as dollar blue, closed at $1,205 for sale, marking an increase of $40 in a single day.
This increase adds to a cumulative rise of $100 in three days, reaching its highest value since October 28. The exchange gap with the wholesale dollar has reached 17.9%, the highest level since November. The rise of dollar free has been driven by several factors.
Firstly, the reduction in the interest rate by the Central Bank has encouraged the dollarization of portfolios at the end of the year. This practice is common in December, when many people seek to protect their assets against inflation and the devaluation of the peso.
Fountain: Dollar Today.
In addition, the drop in interest rates has generated greater demand for dollars in the parallel market. Another factor that has contributed to the rise of dollar free is the seasonal demand by tourists and those who plan to travel abroad.
With the holidays just around the corner, many people have decided to dollarize their savings to ensure they have enough funds for their trips. This additional demand has put pressure on the exchange rate, leading the free dollar to trade above the official exchange rate.
Costs
However, the Central Bank has decided to intervene to stop this rise and avoid higher levels of uncertainty in the market. In the last hours of the day, the Central Bank entered a greater supply of dollars into the market, which helped reduce the upward pressure on the note.
This intervention has been seen as an attempt to stabilize the market and prevent the free dollar from continuing to rise uncontrollably. This Thursday, December 19, the dollar blue is trading at $1185 to buy and $1205 to sell. Meanwhile, the official dollar is trading at $1002.50 for purchase and $1042.50 for sale.
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