The Argentine peso quoted in an influential marginal market (“blue”) depreciated on Monday a strong 14.64%, to the historical floor of 280 units per dollar in the midst of a huge disparity due to the doubts generated by the immediate future of the domestic economy, operators said.
They added that the spread between the purchase and sale points was very wide, with a volatility of up to 40 cents with sales values that reached 290 pesos per dollar.
“The price jumped everywhere, different offers are heard, but the truth is that the demand for dollars is real among savers who fear what is to come,” commented a foreign exchange operator.
The politics of the South American country was shaken over the weekend with the unexpected resignation of the head of the Treasury Palace, Martín Guzmánand the appointment at the last moment of the official Silvina Batakis for the position.
The informal exchange market serves as a hedge in a expanding informal economywith a gap of 122% compared to the official peso quoted under central bank regulation (BCRA).
