Economy Country January 25, 2025

Financial dollars retreat after changes in agriculture

After the reduction of withholdings on agriculture, the value of financial dollars has decreased significantly, while the Central Bank has lost significant reserves, seeking to stabilize the exchange market.


Financial dollars retreat after changes in agriculture

After the decision to lower taxes on the agricultural sector, a decline in financial dollars was observed. During the week, the Central Bank recorded a reserve loss of about US$ 550 million, prompting the government to seek an increase in currency liquidation from the agricultural sector.

In this context, the official retail dollar, excluding taxes, was set at $1,017.73 for buying and $1,075.78 for selling. At the National Bank, the quotation was $1,029 for buying and $1,069 for selling. Meanwhile, the value of the "card" or "savings" dollar (with a 35% surcharge) approached $1,390, exceeding for the first time since the elimination of the PAIS tax the 20% gap with the MEP dollar.

The Central Bank closed the day with a negative balance of US$ 4 million in the official exchange market, marking its first weekly dollar sale in 2025 with an unfavorable net result of US$ 119 million. Despite an increase of US$ 131 million in international gross reserves on Friday, they decreased by US$ 547 million during the week, part of which was used to contain the gap with financial exchange rates.

Regarding future dollar contracts, a sharp drop was recorded on the last business day of the week, which would lead to an expected monthly adjustment of 1.7% on average, still above the 1% announced by the Central Bank starting in February. A cumulative rise of 10.5% is projected for the first half of the year.

On the other hand, the blue dollar was positioned at $1,240, creating an 18% gap. The MEP dollar was located at $1,157.39, with an 11.85% gap compared to the official rate, while the Liquidation dollar was sold at $1,170.64, establishing an 11.49% spread with the official. The "card" or "tourist" dollar, as well as the savings (or solidarity) dollar, operated at $1,389.70.

Finally, the crypto or Bitcoin dollar was quoted at $1,206.78, while Bitcoin reached US$ 105,266.26.