Wednesday , January 27 2021

Dollar: The government is easing super stocks in an effort to reduce the exchange gap

The blue dollar fell below $ 158 on Wednesday. The government took a small step to disarm the superpower it had imposed on stock market operations, causing it to touch the gap between the official and the blue. Maximum 150% at worst.

The government reduced the number of “parking” from 3 to 2, warning of the inconvenience caused by this gap in the IMF with a resolution of the National Securities Commission. That he buys it in pesos and sells it in dollars. When the super stock was first launched to stop the rise of blue and liquid money, the waiting period was extended to 5 days, then to 3 and now to 2.

A few days ago, before the IMF, Argentine director Sergio Chodos warned about this.e “Gap makes them anxious”At the same time, he said, “capital control will need to be maintained for some time.” “The tendency to gap is always something they focus on. The widening gap makes them anxious,” Chodos said. Today, the gap between the official wholesale dollar ($ 80.79) and the blue ($ 158) is 95%.

Resolution 871/20, signed by CNV chief Adrian Cosentino, states that “provisions need to be reviewed to” encourage.Increased supply of foreign currency in the local market, Its price stability and With free accessPaying special attention to small investors.

CNV also ordered:

* Reduce the waiting time Three or two business days For human and legal persons selling security who can make a transfer of receipts and then negotiate with the People’s United Front dollar settlement.

* Delete the verse Stability for human and legal persons selling securities (today it is three business days) that can be negotiated with a change of receipt and then settled in local currency.

* Portfolio of Stock Exchange Companies (ALYCs) Operations can be reorganized As clients in foreign markets with no restrictions on local negotiations to the cable system.

* Ministries of ALYCs, on a temporary and special basis Must be net bidder on bonds Sovereignty of the domestic law dollar as discussed in pesos and net holders of these assets when in foreign currency, all in the concurrent currency category of price-time priority and daily basis offerings.


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