Dollar: how much is the dollar trading at at the close of the first week of October

On Thursday, the price of dollar once again reflected the volatility and significant differences between the official and parallel markets. On this date, the blue dollar, which is traded in the informal market, closed at $1,215 for sale and $1,185 for purchase.

On the other hand, the dollar official, which is traded in the formal and regulated market, was quoted at $1,006.78 for sale. The difference between the blue dollar and the official dollar, known as the exchange gap, was around 20.7%.

This gap is an indicator of distrust in the formal economy and the exchange restrictions imposed by the government. The high demand for dollars in the parallel market reflects the search of Argentines to protect their savings from inflation and the devaluation of the peso.

The counted dollar with settlement (CCL), a tool used by investors to transfer currency abroad, was quoted at $1,233.98. Meanwhile, the MEP dollar (Electronic Payment Market), which allows the purchase of dollars through the local stock exchange, stood at $1,207.51.

Dollar: how much is the dollar trading at at the close of the first week of October

Fountain: Dollar Today.

These quotes show the complexity of the Argentine exchange market, where multiple exchange rates coexist due to government restrictions and regulations. This Friday, the blue dollar is trading at $1,185 for purchase and $1,205 for sale.

Meanwhile, this Friday the official dollar is trading at $952.50 for purchase and $992.50 for sale. A high dollar makes imports more expensive, which in turn increases production costs and the prices of goods and services.

Dollar: how much is the dollar trading at at the close of the first week of October

Costs

This contributes to inflation, which is already a serious problem in the country. Furthermore, exchange rate uncertainty makes financial planning difficult for both companies and individuals.. The business sector is particularly affected by the volatility of the dollar.

Companies that rely on imported inputs face higher costs, which can lead to a reduction in production and, in some cases, business closures. On the other hand, exports can benefit from a dollar high, since Argentine products become more competitive in the international market. However, the lack of stability and predictability remains a major challenge.

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