How quotes closed this Friday, January 12
The week of postponing the agreement with the IMF ended today with the fall of the financial dollar to the level of last Friday. On the other hand, the free dollar corrected compared to the growth of financial indicators in the previous week.
As for the Central Bank, the week also ended with encouraging news. After a successful placement this Thursday in the Bopreales tender, the company today bought another 300 million dollars and thus accumulated over 805 million US dollars in a week.
The market appears to have calmed down following the announcement of the agreement with the multilateral body and has begun to clear up some of the uncertainty that has been plaguing the City.
The free dollar remained unchanged on Friday, trading at $1,070 buy and $1,120 sell. Thus, it ended the week with a gain of 95 pesos, leaving the gap at 37%.
For their part, financial stocks continued to decline from Tuesday’s highs and fell for the third day in a row. MEP closed at $1,091.75, down 2.5% on the day. Meanwhile, CCL fell to $1,126.93, down 1.8%. The gaps in relation to the official ones were 34% for the MEP and 38% for the KLK.
Last Tuesday, in the midst of political uncertainty, parliamentary debates on the Omnibus Law project and negotiations with the IMF, both quotes touched their historical nominal highs, even the CCL reached $1,230.
The official price after daily adjustment is $835.50 in Banco Nación, $860.64 in the rest of the system and $816.10 in the wholesale section.
With these values, expenses in foreign currency on the Card in dollars are 1336.80 US dollars.
For its part, Central continues to soak up dollars in the market and this Friday made its most important purchase since the start of 2024: $300 million.
Thus, the company has acquired a total of US$4.333 million under Milei’s management so far. The monetary authority’s gross reserves increased by US$406 million to end the week at US$23.976 million. The reserve accumulation target agreed with the Fund is US$10 billion this year.
“This policy is expected to result in a net reserve accumulation of $10 billion by the end of 2024, including $2.7 billion accumulated in the final weeks of 2023,” the IMF detailed in a document released Wednesday evening after the mission. in the country.
After a strong start to 2024, the bill will be even higher, but the government will still have to deal with net payments to the IMF and bondholders, as well as importer debt, which it is trying to resolve through a projected payment schedule and the BOPREL tender.