In February and March we will see more pressure from the dollar

EL LIBERAL – The economist, director of the Fundación Libertad y Progreso, Aldo Abram, referred to the reduction of the gap between the official dollar and the parallels and indicated that it reflects’ a certain confidence that was recovering when removing the restrictions that exist in the exchange market’.

But he also indicated that the Government ‘is forcing a certain reduction in the gap with the participation of public organizations by selling the public securities they have and reducing financial dollars. Another issue that is particularly added this month is that people use a lot of cash so they tend to use more cash or to save to use it later when the holidays approach and they are about to go on vacation. December and until mid-January is usually a period with a very strong demand for pesos, ” he said.

He added that this strategy is sustainable, ‘as long as they show signs of coherence. One thing that is certain is that it continues to be issued -via transfer from the BCRA- to finance the Treasury. That issue in December is not going to affect the markets because there are going to be people demanding those excess pesos ”.

However, “the problem is that after mid-January, February and March, the demand for pesos falls sharply, so everything that is issued now, people will stop demanding from mid-January and mainly February and March. and if they do not remove it, it will pressure a depreciation of the peso and a new rise in the dollar ”.

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