The blue dollar in freezer mode awaiting the elections in Argentina

Dollar gap reaches highs of 2020. The differential between the cash with free settlement and the official exchange rate is 116% and, except for what happened in a few wheels in October 2020, it is the highest gap in 30 years in Argentina.

Faced with this scenario, the trading desk of the Central Bank of Argentina (BCRA) has the order “from above” to monitor the price of the blue, and go out to subsidize it if it exceeds 200 Argentine pesos, to cause a decrease in the closing, before elections next Sunday.

Frozen prices

As if it were just another product of the 1,432 prices frozen in supermarkets, now the blue enters a kind of freeze, although only until the November 14 elections.

To intervene in the parallel market, the BCRA does it indirectly, selling bonds in dollars in the MEP, to make the dollar go down in the subsidized stock market and continue at 182, so that it is still business to make the mash by buying those cheap and cheap currencies. reselling them in the caves for 196 pesos.

This is the only way to supply banknotes to the blue, which always looks askance at the price of financial dollars, and has been on the rise since the implementation of the new careful prices.

The Chronicler-RIPE

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