He Dolar blue resumed the upward path in Argentina and reached a new nominal record today, a situation that generates attention in Uruguay, given the possibility of a resurgence of the exchange difference, a phenomenon that began to mitigate after the devaluation in the neighboring country.
The parallel market currency advanced 50 Argentine pesos this Tuesday and closed at 1,180 pesos for sale, reaching its highest historical value and reviving concern on the part of the government about the various effects caused by the price gap and the subsequent consumption diversion.
Specifically, the Dolar blue It has increased by 60 Argentine pesos in two days, after having added another 95 Argentine pesos last week. Another aspect to follow carefully is the gap between the illegal exchange rate and the official one, which is at 44.2%, the highest level since the devaluation of December 13.
With these figures, the bill increased by 155 pesos in the first weeks of 2024, while in 2023 it increased by 679 Argentine pesos, a high variation of 196.2%, which in any case would be below the inflation in the same period, according to private estimates.
Could the rise of the blue dollar deepen the price gap?
The gap between Dolar blue and the official exchange rate in the Argentina generated severe disruptions in the Uruguayan economy during 2023 and, after the inauguration of the president Javier Milei and a sudden devaluation, the situation seemed to begin to recover, with a smaller exodus of citizens to make purchases in the neighboring country.
However, this increase in the gap attracts the attention of the government, given the possibility that the price difference will grow again, which strongly reduced prices. sales on the coast and generated a significant diversion of consumption, which had a notable impact on the collection.
In turn, this situation has partially affected the summer season, with a decrease in visitors from the sector that makes up the Argentine middle class, which tends to lean towards Uruguayan destinations such as Colonia, Rocha and Montevideo, among others.
At the time, the Fiscal Advisory Council (CFA) had warned about the “macroeconomic imbalances” of the neighboring country, speaking of “fiscal deficit, chronic three-digit inflation and multiple exchange rates,” among other problems.
Now, with the correction of some variables in the neighboring country and the measures aimed at alleviating the effects of the exchange difference of the Executive headed by the president Luis Lacalle Pou, It will be necessary to see if this situation is finally corrected or if, on the contrary, the gap increases again and becomes a problem again this year.
Source: Ambito
