Yesterday, the Argentine parallel dollar, commonly known as the “blue dollar,” saw a significant decline, reaching 1,340 pesos per unit—a two-month low.
The gap between the parallel and official exchange rates widened, with the official dollar showing a 41% difference, indicating market optimism. The retail official dollar, available to the public, presented a 36% difference.
Both official rates are currently below 1,000 pesos per unit, following a devaluation policy aiming for monthly increments of 2%. Financial market rates remained stable throughout the day.
Prices for financial dollars, derived from transactions involving Argentine public securities, remained consistently below 1,300 pesos.
President Milei’s government and the Central Bank continue to intervene in the high-value CCL segment to stabilize the parallel market and withdraw excess pesos from circulation.
The blue dollar’s drop to a two-month low hints at temporary relief in the informal currency market, underscoring the need for lasting economic reform in Argentina.
Key Takeaways
The decline in the blue dollar suggests fleeting market optimism and government efforts to stabilize the currency amid economic challenges like inflation and recession.
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