All in all, the exchange rate gap with the wholesale official exchange rate fell to 110.4%.
On Friday, the parallel dollar had climbed $16 and touched an unprecedented value at the close, after registering $280 intraday last Monday, in what was the first reaction of the market to the departure of Martín Guzmán as head of the Palacio de Hacienda.
The fall of the blue dollar occurs after the new economy minister announced a series of measures aimed at reducing the high fiscal deficit and calming the financial markets.
Batakis said that It will maintain goals agreed with the International Monetary Fund (IMF), among other decisions that seek to clear up doubts about the future of the economy.
“We are not going to spend more than we have,” the official said at a press conference. “We need to give some order and balance to the public finances of the national state,” she added.
Batakis pointed out that Argentina will look for a positive Interest Rate Path, it will freeze the entry of new employees to the public sector, it will maintain the plan of cuts of subsidies to the consumption of services stipulated by the previous administration and it will avoid expenses above the real cash projection.
Blue dollar price in July
During July, the blue dollar accumulates a rise of $30, which represents its biggest monthly advance in the year so far, after ending June at $238.
Let us remember that in June, the informal dollar advanced $31 (+15%), after rising $6.50 (3.2%) in May.
The parallel dollar rose 50 cents in April, and lost $11 in March, its worst performance in 14 months. Last February, it fell $6.50 (-3%), after rising $5 or 2.4% in January.
Price of the blue dollar in the year
So far this year, the informal dollar has advanced $60, after closing 2021 at $208.
During the past year, the blue dollar registered a rise of 25.3% ($42), half compared to the inflation of the period (50.9%). However, it is worth remembering that in 2020 it had shown a sharp jump of 111% (compared to 36% inflation).
What is the blue dollar?
The value of the blue dollar has a substantial difference with the official dollar, which is acquired in banks and has an established price. Its sale is in the informal market, without regulations or limits, and for this reason it is generally operated at a value greater than the official dollar.
Why is it called the blue dollar?
The origin of the blue dollar as a denomination for the operation of the banknote in the informal market is not clear. But there are theories.
An explanation of its name indicates that it is so called because in English, “blue”, in addition to naming the color blue, refers to something “dark”.
Another theory relates it to purchase operations through bonds or shares of companies known as “blue chips”. They also link it to the approximate color that appears when a fibron is applied to detect counterfeit bills.
Price of the savings or tourist dollar
The savings dollar or solidarity dollar -retail plus tax- increased $1.29 to $222.21 on average.
More news about the Blue Dollar and the Dollar
Source: Ambito
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