US EditionUp the Dollar: the Reasons for the Exchange Rate Escalation
15 Articles
15 Articles
The export supply of agriculture was withdrawn and demand persists, especially after the end of the LEFI; the US currency today advanced $55 and reached $1380; in July the increase was 13%
The official dollar rose to 55 pesos and closed to 1380. The jump took place despite the crazy rise in the rates, the interventions in the futures market, the decrease in the retentions and the announcement of the disbursement of the IMF. Atonito, Caputo only managed to say that “it was expected” and Milei unusually accused Villarruel. Already began to circulate new lists of prices with rises of 9%.
In the last 7 months, it gained 20% competitiveness due to the price rise. The market still expects a correction, but more limited.
For the former Minister of Economy of the Chaco, Cristian Ocampo, the escalation of the dollar of the last days is part of a deliberate decision of the national government that tries to encourage the liquidation of foreign exchange by agricultural producers, which added to the new decline of retentions to the exports of cereals and meat. “I think the background of the rise of the dollar is that the government itself let it run a bit. Why? Becaus…
The president of Maizar, Federico Zerboni, said that, “there is no currency delay, it is a much more competitive dollar for the entire Argentine economy.” Read more
The dollar continued to rise this Thursday, ending the month at 1,380 pesos (seller quote, Banco Nación). In July, it climbed 150 pesos, but yesterday alone, it climbed 55 pesos. The government raised interest rates, announced a reduction in agricultural taxes, reinforced interventions in dollar futures, and agreed to the entry of new funds from international organizations, but failed to calm devaluation pressures. Buying pressure overflowed all…
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