Home » Business » The CCL dollar and the MEP sink near $ 7 after agreement with the bondholders

The CCL dollar and the MEP sink near $ 7 after agreement with the bondholders

In tune, the MEP dollar, or Stock Market -similar operation to that of the CCL but within the country- drops by $ 5.40 (5.7%) to $ 115, so the gap with the official is reduced to 60.7% .

The Government announced that it reached an agreement with its main creditors, which would help the South American nation to come out of a default and alleviate an economy in recession for more than two years.

The economy ministry said in a statement that it would adjust some payment dates and legal clauses to improve what had been announced as the “final” offer, made in early July, without modifying the general payment of principal or interest.

Argentina and its largest creditors “reached an agreement on the date of the date that will allow them (…) to support Argentina’s debt restructuring proposal and grant the Republic significant debt relief,” said the Ministry of Economy. Argentine in a statement.

On this topic, the economist and ex-minister of Economy Emanuel Álvarez Agis considered that the understanding reached with the bondholders will allow the pressure on the blue dollar and the cash settlement to begin to drop, since “it is probable that the Central Bank could return to normality, with the financial horizon that clears the agreement. “

Álvarez Agis recalled that “many people bought dollars, 4 million people last month, compared to 2 million in June, to cover themselves” due to the uncertainty about the negotiation with creditors.

In addition, “many importers went to look for them in the parallel market”, but now they will be able to “buy back the dollars in the official market”, with which the exchange rate would be closer to the value it has today with the so-called tourist tax , indicated in radio declarations.

Official dollar

He dollar rises seven to $ 99.70 in agencies and banks of the Buenos Aires city, according to a survey by Ámbito, in line with the retailer, which advances to $ 76.69, after the agreement between the government and creditors for the restructuring of bonds for some US $ 66 billion of debt.

At Banco Nación, the ticket – without the PAÍS tax – is priced at $ 76.50, while on the electronic channel it is available at $ 76.45.

For its part, in the Single and Free Exchange Market (MULC), the currency increased five cents to $ 72.57, in a round in which the Central Bank set the pace again with its initial selling position.

Blue Dollar

He blue dollar sinks $ 8 this Tuesday to $ 128 according to a survey by Scope in caves of the Buenos Aires Microcentro, as financial tensions loosened.

The The gap with the wholesale dollar falls to 76.4%, after touching 95% on July 25, and reaching a maximum of 104% in mid-May..

It happens after the government announced an in extremis agreement with its creditors to restructure debt for some US $ 66,000 million, which takes the country away from the consequences of a default.

It is a “significant relief” in the service of the debt, said the Ministry of Economy in a statement issued this Tuesday, a few hours before the expiration of the term established by the Executive to adhere to its exchange offer.

It should be remembered that, during July, there had been blockades of dollar bank accounts by banks before “unusual movements”, made by the “digital collectors”, who then used the informal market to carry out the “pure” (buy in the official and sell in parallel taking advantage of the existing exchange gap).

Since the quarantine started, the blue accumulates a rise of $ 42.50 (from the $ 85.50 of March 20), product, among other causes, of greater restrictions to operate, not only in the Single Market and Free of Exchange, but also for the operations with the CCL dollar and the MEP.

Bookings

Lastly, despite BCRA sales, the Gross International Reserves rose yesterday by $ 10 million to close the day at $ 43,348 million.

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