economic, Federico GlostenIn an interview with Canal E, he analyzed how the demand for the peso and the dollar behaves in the last period of the year and during the peak season. With the exchange rate rising and consumption remaining fragile, he warned that “January will be more complicated than December.”
According to Federico Glustein, the month began with clear dynamism: “What we began to see at the end of November: It is a demand for pesos supported primarily by legal entitiesHe also explained that many companies need liquidity to pay the half bonus, and thanks to regulations that have eased banks’ reserves, they can obtain advances in pesos to avoid selling their dollars.
Companies decided to protect dollars
In this sense, he highlighted: “Many companies decide Don’t sell it and pay a small fee To be able to earn those pesos instead of selling dollars.
At the same time, Glustein noted that families are using the dollars they have saved to cover seasonal expenses: “Families, knowing they have no recourse, They sell dollars made from pesosOr at most they use dollars for foreign tourism.”
Tourism demand is approaching
On the other hand, he emphasized that tourism is an essential part of the seasonal demand for foreign currency. “The time will begin to draw near Where the selling of dollars will be observedBut also as a counterweight we have the demand for dollars for tourism, which I think it is Buying and selling of dollars will be perfectly balanced“.
Unlike other countries, the interviewee noted that the Argentine season lasts several months: “We leave in January, we leave in February, part of the demand for currency issuance.” It’s during carnival period too.“.
According to estimates, October recorded a record $9,000 million in tourism demand, a figure that “will continue until the end of the year.” 12 billion dollarsThis could add “an additional $1,300,400 million” in January.