The foreign exchange market remains stable at the end of the year as the Ministry of Finance intervenes with the sale of currencies to avoid exchange rate fluctuations. For days, the wholesale dollar has been around $1,450. while on Wall Street awaits the arrival of the “Santa Claus Rally”, a dynamic that describes the rise in stock prices in the period between holidays.
The second round of the short week starts The official wholesale exchange rate appears on screens at $1,450.26. with a decrease of just $0.85 compared to the previous close (-0.06%). This is the fifth round in a row in which the values remain similar. although financial quotes are up to $100 higher.
He MEP dollars It is trading at $1,490.29 on the capital market, down $2.77 from the previous close (-0.3%). Instead this Cash with settlement (CCL) It is up $5.07 and trading at $1,547.59 (+0.3%).
Outside the screens, in the informality of the caves and trees that can be found in downtown Buenos Aires Blue Dollar sells for $1505. This is the highest nominal value since the parliamentary elections at the end of October.
“Agriculture has liquidated very little, about $27 million, and it seems that there has not been much intervention. Yes, we can confirm that the government took action last week to keep the dollar from rising. The Central Bank (BCRA) intervened in future dollars and the Treasury sold dollars,” he noted. Fernando Marull, FMyA economist. In numbers, Treasury deposits fell by $185 million to $1,836 million on Thursday, December 18.
Given this scenario, despite the fact that the second half of December is characterized by greater demand for the collection of the bonus, leading to an increase in contributions, the The official retail dollar remains stable at $1,475 on the board of Banco Nación. According to BCRA’s daily survey, the average price in the rest of the financial institutions is $1,475.41.
At the international level, the market is waiting for the arrival of the rally of Santa Clausa historical phenomenon that causes stocks to rise in the last five rounds of the year and the first two rounds of the following year. Although it is not reflected in the main US stock indices this Tuesday, the green reaches the Argentine companies listed on the New York Stock Exchange: the papers of Central Puerto rises 2.2%, followed by those of Great bench (+1.4%) and Black Hill (+1.3%).
Buenos Aires stock market rises 1.2%until trading reached 3,173,625 units ($2,049 adjusted for dollars counted as liquid assets). In the main panel, the actions of Loma Negra (+2.3%), Grupo Financiero Galicia (+2.1%) and Central Puerto (+2.1%) stand out.
“The market is acting cautiously, both in equities and in fixed income securities. It is a week permeated by political definitions related to the possible bringing forward of the 2026 budget and with less volume due to the disruption caused by the Christmas holidays,” said Ignacio Morales, Chief Investment Officer from Wise Capital.
The Government bonds in dollars Mixed variants will be traded this Tuesday. For example, the globals show an increase of 0.54% (this is the case of the stocks GD29D and GD30D) and a decrease of 0.24% (GD35D). He Country risk It remains at 570 basis points after threatening to hit 2018 lows last week and rebound by the end of the day.
“Both bonds and stocks will remain at their highest prices in 2025.”. As for bonds, we’re waiting to hear how the government will pay the Jan. 9 maturities. It remains to be seen whether the missing $2.4 billion will be paid through repo transactions with banks or through the placement of foreign debt. There may be some recovery if the 2026 budget is approved or a form of payment is announcedMarullus added.
In this regard, the Minister of Economy, Luis Caputo, stated this morning The government will “try” to ensure there are no debt issuances on Wall Street to meet January maturities. “The goal is to eliminate the country’s dependence on Wall Street. Will we be able to do that? We believe so,” he said on the social network X.
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