Friday of last week was a significant day for the Argentine exchange market, with the price of dollar blue and the official dollar showing notable differences. The price of the blue dollar, which is negotiated in the informal market, was $1,220 for sale and $1,190 for purchase1
In contrast, the dollar official, available in banks and exchange offices, was quoted at $1,001 for sale and $961 for purchase. This difference of approximately 25% between both types of dollars reflects the persistent exchange gap that characterizes the Argentine market.
In addition to the blue dollar and the official dollar, other types of dollars were also quoted that day. The counted dollar with settlement (CCL) traded at $19.20, while the stock market dollar (MEP) traded at $293,921.
The country risk fell 138.9% to stand at 1,099 points, showing a slight stabilization compared to previous days. The price of the blue dollar has been a recurring theme in the Argentine market, especially in a context of high inflation and constant devaluation of the local currency.
Fountain: Dollar Today.
Throughout 2024, the blue dollar has shown a rise of 36% compared to the same period of the previous year, reflecting the growing demand for hard currencies amid economic uncertainty.
However, so far in October, the blue dollar has fallen 3% compared to the previous month, which could indicate a slight stabilization in the market. The Argentine foreign exchange market has faced numerous challenges in 2024, including the need to maintain international reserves and manage inflation.
Values
The Central Bank of the Argentine Republic (BCRA) has played a crucial role in this context, implementing measures to control the money supply and ensure market stability. Despite these efforts, the exchange gap remains a significant challenge, affecting both companies and individuals seeking to protect their assets against the devaluation of the local currency.
This Monday, October 21, the dollar blue is trading at $1205 to buy and $1225 to sell. Meanwhile, the official dollar is trading at $964 for purchase and $1004 for sale.. The situation of the foreign exchange market in Argentina remains complex and dynamic, with challenges and opportunities that require constant vigilance and prudent management.
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