In a noticeable market shift, the Argentinean 'dolar blue' registers a third continuous day of decline, currently trading at 895 for buying and 945 for selling. This downward trend follows a significant rise post-election and is perceived as an optimistic response to Javier Milei's presidential victory, a win seen as a pro-market triumph. The gap between the 'dolar blue' and the official dollar hovers at 150, with the wholesale rate standing firmly at 162.9.
Fluctuations in the 'Dolar Blue'
November saw a steep 30.3 rise in the 'dolar blue', bringing the year-to-date increase to a staggering 599. After peaking to a nominal record of 1100 the day following the general elections, the currency has since moderated its climb. Despite the recent decline, expectations are ripe for a potential unification around 800 by December.
Looking Ahead: Milei's Economic Plan
The spotlight now shifts to Milei's impending economic strategy in the United States, which includes addressing the Leliq debt. This debt, a remnant from Mauricio Macri's administration, is three times the reserves of the Central Bank of Argentina (BCRA) and accounts for about 90% of its liabilities. Milei's team has also pledged to engage with the International Monetary Fund (IMF), assuring that their economic adjustments will resonate with the Fund's program.
Market Anticipation and Regulatory Changes
Financial dollar rates dipped by as much as 8.6% on Monday, a decline analysts attribute to the anticipation of a pro-market government. Amid this decrease, the National Securities Commission (CNV) has imposed new regulations on CEDEARs, entities involved in Contado con Liquidación (CCL) dollar transactions. This regulatory shift is poised to have a significant impact on Argentina's financial landscape, adding another layer to the complex dynamics of the country's economic trajectory.