Last week, which marked the end of the month of November, the price of dollar in Argentina it showed significant differences between the official dollar and the blue dollar, reflecting the persistent exchange gap that characterizes the Argentine market.
He dollar official, which can be acquired in banks and authorized exchange houses, was quoted at $991 for purchase and $1,031 for sale at the Banco de la Nación Argentina (Banco Nación). This value remained stable compared to the previous day, with a minimum variability of 0.05%.
The stability of the official dollar is largely due to the policies of the Central Bank of the Argentine Republic (BCRA), which has actively intervened in the exchange market to maintain the stability of the currency.
On the other hand, the blue dollar, which is traded in the informal market and is not regulated by the BCRA, was quoted at $1,100 for purchase and $1,120 for sale. This difference of approximately 11% between the blue dollar and the official dollar reflects the high demand for dollars in the parallel market and the lack of confidence in the stability of the local currency.
Fountain: Dollar Today.
The exchange gap between the blue and the official has been a constant in the Argentine market, and although it has varied in magnitude, it has always existed. In addition to the official dollar and the blue dollar, there are other exchange rates in Argentina, such as the CCL dollar (Cash With Settlement) and the MEP dollar (Electronic Payment Market).
He dollar CCL was quoted at $1,101.90 for purchase and $1,103.30 for sale, while the MEP dollar was traded at $1,075.76 for purchase and $1,076.40 for sale. These values reflect relative stability compared to the blue dollar, although they still present a significant exchange gap with the official dollar..
Analysis
The difference between the blue dollar and the dollar official is a reflection of economic instability and lack of confidence in the economic policies of the Argentine government. High inflation, constant currency devaluation and exchange restrictions have led many citizens to turn to the informal market to protect their assets.
This situation has generated a dual market in which the dollar blue remains at a value significantly higher than the official dollar. This Monday, the blue dollar is trading at $1100 for sale and $1120 for purchase. In turn, the official dollar is quoted at $991 for purchase and $1031 for sale.
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