The realization of the shares resulted in a doubling of the exchange rate and this enabled investors to arbitrate between government bonds to get a difference of at least 5% in pesos in ten minutes. The fear of the MEP dollar, also known as the dollar exchange rate, exploded demand for Bonar 2024 (AY24D) thanks to the ability to bypass the stocks from the mobile phone .
"It is all the rage in the stock market to the extent that the stock companies had to limit the operation of buying the US currency due to connection problems with Argentine stock exchanges (Byma) under the order. Among the liquidation and compensation agents (ALyC ) which has taken the measures is Balanz Capital, which prevented the realization of more than five buys business.
Investing Online is also added to the measure but in a more aggressive manner and Customers may only perform this type of action three times a day.
The measure met the demand for Bonar 2024, also called AY24D, the preferred bond for this operation, which shows a price with a growth of more than 55% from the minimum requirement Last Monday.
Demand went from less than 10,000 transactions to a record 75 600.
The MEP dollar is almost 14% above the official value if the price is taken to Banco Nación, while "Dollar liqui", or cash with liquidation is slightly more expensive and the gap is about 18%.
How is the curle created?
The first step is to open a capital in a stock market. Then the operation consists of buying dollars at the spot price or retail at a price of $ 59 (quotation from Balanz Capital), buying bonds in dollars like AY24D and selling the same instrument in pesos. In this way, the investor receives the percentage difference between the MEP dollar and the retail exchange rate. If you want to perform the "curl" several times a day, it is necessary to subscribe to Immediate Cash (CI), instead of the one in 48h.
What is the risk of doing a curl?
The main risk consists of lowering the price of the bond when you perform the operation, although there is a 5% margin to leave without loss.