The widening of the exchange rate gap in the last three days has begun to have economic implications beyond the political sphere. In light of this situation, the Central Bank is expected to take more vigorous measures to contain the price of the dollar in the coming days. It is estimated that the entity will carry out greater interventions, such as selling reserves in the bond market, to counteract potential pressures.
The market has already reacted due to the political noise, and it is anticipated that the Central Bank will intensify its efforts to maintain exchange rate stability. According to Santiago López Alfaro, head of Patente de Valores, it is likely that the Central Bank will increase the supply of dollars in the bond market to prevent the exchange rate gap from widening further.
Despite the political tension, financial dollars may be less affected than other assets by volatility. However, it is expected that international political capital will be impacted by these events. According to market operators, the prices observed on Monday are not a solid reference and it will be necessary to wait for the market to react more clearly on Tuesday.
Financial analyst Christian Buteler suggests that the Central Bank will have to intervene more forcefully to curb the growth of the exchange rate gap. Although a drop in the financial dollar quotes is anticipated, no significant increases are expected in the short and medium term in the exchange market. Juan Truffa, director of Outlier, highlights the loss of credibility that the President has suffered due to these events.
During the day, the MEP dollar rose by 2.2% reaching $1210, while the price of the informal dollar advanced by 1.2% settling at $1235 in the exchange houses of the City. Despite the inactivity on Wall Street due to a holiday, the Contado con Liquidación increased by 1.1% reaching $1210.
