The blue dollar in Argentina It reached around 275 Argentine pesos in the purchase and 285 the sale this Monday, July 4according to information from Ámbito Financiero and C5N, amid uncertainty over the resignation of the Minister of Economy, Martín Guzmán, last Saturday, and the election of Silvina Batakis as his successor.
The day had started with an increase of 0.42% this Monday, July 4, with a price of A$ 236 for purchase and A$ 239 for sale. However, minutes after 11 a.m. the last increase was recorded, a 17.52% higher than the opening price.
The current price presents a variation of A$ 150.25 in the purchase and A$ 160.5 in the sale with respect to the official dollar, which is at Argentine A$ 124.25 for purchase and A$ 130.25 for sale.
Guzmán submitted his resignation to the Economy Ministry on Saturday, via a Twitter letter. The news led to a long day of uncertainty, until a call between President Alberto Fernández and Cristina Kirchner defined that Guzmán would be replaced by Silvina Batakis, who would take office this Monday afternoon, if the administrative paperwork was completed on time.
Prior to the official announcement, the president of the Central Bank of Argentina, Miguel Ángel Pesce, defined that a banking and exchange holiday if the appointment of the economy minister continued to be delayed.
This Monday the outlook is expected to remain stable due to the Independence Day holiday in the US, which would give financial companies time to react.
But Batakis has a limited amount of time to assemble his team, deliver a speech that reassures the markets and define whether there will be a foreign exchange holiday or not.
Over the weekend, the change was only noticeable in the cryptocurrency market, as it was the only platform available at any time of the week. The result was that, over the weekend, “people flocked to buy crypto, not just stablecoins. [Martín Guzmán] he resigns on purpose on a weekend because if this happens on a weekday there would probably be a strong exchange problem”, explained the CEO and co-founder of Satoshi Tango, Matías Bari.
In June, the blue dollar posted a rise of 16%, at the beginning of that month it was trading at 206 pesos, in the middle of the month it climbed to 224 pesos, and in the last week it had reached a nominal record of 239 pesos, with which it maintains a gap of more than 91% with respect to the official wholesaler, and 83% in relation to the retailer. Now the 280 represents a new consecutive record.
