Buenos Aires, March 18 (NA) — The official dollar is advancing in the wholesale segment this Wednesday, touching the $1,400 mark. With this level, the quotation is positioned at 16.8% of the ceiling of the exchange rate band, which stands at $1,635.5 this Wednesday. Even so, the exchange rate remains contained thanks to two key factors: high interest rates in pesos that discourage dollarization and a sustained supply of foreign currency, driven by exports and external financing. Meanwhile, dollar future contracts are operating with widespread increases of up to 0.3%. The market expects the wholesale dollar to be at $1,410.5 by the end of March, according to the Argentine News Agency. At the retail level, the dollar is trading at $1,420 for sale at the National Bank (BNA). The MEP dollar rises 0.5% to $1,424.09, while the count with liquidation (CCL) falls 0.5% to $1,472.47. The blue dollar holds steady at $1,435 for sale. Exchange rate stability coexists with a deterioration in international reserves. The dollar card or tourist dollar, equivalent to the official retail dollar plus a 30% deductible surcharge from the Income Tax, is at $1,846. Meanwhile, in the survey of financial institutions conducted by the Central Bank (BCRA), this averages $1,420.88. On the other hand, parallel dollars are rising. The Central Bank recorded a fall of close to $871 million in a single day, largely explained by payments to international organizations such as the IDB and the IBRD.
Warning signs appear in the second half of the year. Seasonality is working against it: the supply from the agricultural sector falls, at the same time, demand for pesos decreases.
