After operating for almost the entire rise wheel, the official wholesale dollar closed the day this Friday at $ 1,355, due to the official intervention both in the official change market (MULC) and in the futures. In the previous election the government re -sold dollars and detached from US $ 280 million. It is estimated that In the week the treasure sold approximately US $ 500 million. Follow the bleeding of dollars to contain the price of the green ticket.
Meanwhile, The country risk rose to 901 points And he touched Its highest level in almost 5 months. In the Buenos Aires stock market, the S&P Merval index increased 0.4% in pesos and stood at 1,997,624.37 units and fell 0.3% measured in dollars, with 1,436.60 units. The most pronounced descents corresponded to Ternium (-4%), Transener (-3%) and Aluar (-1.7%).
Within the framework of the 46th Annual Convention of the Argentine Institute of Finance Executives (IAEF) the Secretary of Finance Pablo Quirno He spoke to representatives of the financial sector and said that volatility will continue until October due to the electoral climate.
Dollar escape
This week the government announced the intervention in the exchange market after the cries of the economic team that “the dollar floats.” Due to the exit of dollars and the exchange pressure the government gave a rudder.
Quirno sought to justify the sale of dollars in saying that the treasure did not intervene to set the exchange rate, but to “provide liquidity and ensure normal functioning” in the face of episodes of illiquidity that “distort the real value of the dollar.” The official denies it, but the government sought to contain the rise in the exchange rate in the previous electoral.
In addition, dollars are not left over. According to the Congress Budget Office, In September they expire US $ 897 million with credit agencies. It is estimated that the treasure deposits in the Central Bank would be located around US $ 1,126 million. Without taking into account these obligations, this week’s daily sales rhythm would reach to cover nine business days with the treasury’s own resources, so they should later take dollars from the reserves of the Central Bank if they want to continue intervening.
Luis Caputo continues to raffle dollars while the bleeding continues for the capa of capital escape, debt and tourism payments. According to data from the Central Bank, in July 2025 the formation of external assets of the non -financial sector (known as capital leak) was US $ 5,432 million. Of that total, US $ 3041 million correspond to the purchase of tickets by human people. Only in four months an exit of US $ 14,719 million accumulates, that is, an amount similar to the two disbursements that the IMF did since April.
The proximity of the elections brings uncertainty to the economic front, as well as the instability of the government and the weakness of the reserves. The “markets” and the owners of the country press for a reset of the economy after the October elections, which will probably include a devaluation, changes of the exchange scheme and a new blow to the living conditions of the working class. A background exit is necessary.
Source: www.laizquierdadiario.com
