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Blue dollar, Bitcoin, Banco Nación, country risk and fiscal deficit: the five keys of the day in the markets

The crypto fever fueled by billionaire Elon Musk continues but this Monday he stumbled: Bitccoin dropped more than $ 10,000 during the day, but then it rebounded and ended with a price close to $ 54,000. Thus, it moved away from the record of more than $ 57,000 that it built in less than two months in which it increased by 98%. This morning, the slide deepens and Bitcoin is trading at $ 46,000.

This Monday, Dolar blue closed at $ 147 and started the week stable, while the saving dollar rose again and already broke the barrier of $ 155, in a day in which the Central Bank acquired 50 million dollars, according to market sources. The trend is expected to continue and the devaluation expectation will continue to be low as a result of official policy and the shift of other savers to instruments tied to inflation, such as fixed term UVA or titles adjustable by CER.

The National Bank revealed what happened to the double debited funds in accounts of several clients whose movements with the debit were affected. « In relation to the problems registered yesterday, linked to duplicate movements in some accounts, it is reported that they have been automatically regularized, » the financial institution reported in a statement on Monday, so the money already it was credited to the accounts that registered problems.

Risk country

The risk country seems to indicate a slight deterioration in investor confidence in the country’s bonds since the foreign debt swap was closed. The indicator prepared by the JP Morgan bank yesterday climbed to 1,501 basis points, an increase of almost 1%. In September, after knowing the adherence of almost 99% of the creditors to the offer, it fell 1000 basis points.

The smallest fiscal deficit since 2016

January brought the first positive number in the fiscal accounts since October 2019: the strong increase in collection via withholdings, along with an adjustment in social benefits, generated a primary surplus in the first month of the year. It was 24,074 million pesos, that is, of the 0.1% of GDP expected for 2021.

According to the Ministry of Finance, January is an atypical month and the restructuring of the interest on the debt in 2020 helped the accounts a lot: the red reached 3,030 million pesos but without the exchange it would have been 47,000 million pesos.

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