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The blue dollar touched its historical maximum and threatens to boost the exchange rate difference

The blue dollar touched its historical maximum and threatens to boost the exchange rate difference
The blue dollar touched its historical maximum and threatens to boost the exchange rate difference

He Dolar blue rose again Argentina and is close to its historical maximum, which sets off the alarms again in Uruguay on the effects that the parallel exchange rate of the neighboring country can generate on the local economy.

The upward trend of the greenback in Argentine territory also occurs at times when the price gap for the first time since Javier Milei He reached the Presidency, although without reaching the high margins of the 2021-2023 period.

Specifically, the Dolar blue It reached 1,300 Argentine pesos during the trading session this Tuesday and closed at 1,295 pesos for sale and 1,265 pesos for purchase, according to a survey by Argentina Area in the caves of the City.

The parallel currency rose 15 Argentine pesos, the same level it had added on Monday. In this way, accumulate 4 weekly increases and stretch the gap with the official exchange rate, which today stands at 43.5%.

The reasons that drive the blue dollar upwards

After a relative exchange rate pax in the first months of the year, the dollar started to rise in Argentina As investors consider what will happen to the Law Bases that drives Milei in the Congress, while they anticipate the possible consequences of the swap payment with China.

Added to that is what happened in the Chamber of Deputies, after the half sanction to the modification of the retirement formula promoted by the opposition and that the president announced that he would veto. However, in the face of uncertainty, the market usually dollarizes as a hedge.

Faced with this scenario, the Argentine Minister of Economy, Luis Caputo, clarified that the eventual drop in COUNTRY tax that affects the dollar will not include a devaluation, by rejecting “unfounded rumors.”

The possible impact in Uruguay

The situation in Argentina could impact once again Uruguayan soil, where, after a start to the year where sales of shops and services, The price gap increased for the first time in the Milei era, reaching 59%.

Although the constant crossings shopping tourism decreased after the increase in prices in the neighboring country, a report revealed that the Uruguayans are still in the Top 3 of visitors, representing 16% of the total, surpassing the countries of Europe (14.6%) and only below Brazil (21.5%).

For this reason, it will be necessary to follow the evolution of the Dolar blue and the gap with the official exchange rate, after a 2023 marked by the exchange rate difference, which generated a significant consumption diversion that affected the collection and generated problems, mainly in the border departments.

Source: Ambito

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