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An important US bank released its forecasts for 2023: how much will the blue dollar be?

An important US bank released its forecasts for 2023: how much will the blue dollar be?

According to a report sent to its clients, the US financial giant Bank of America put a price on exchange rate in Argentina. In this context, he warned against the level of reserves in an eventual change of government.

In this context, BofA projected that the official wholesale dollar will climb to $485 by the end of this year, while the blue dollar will jump to $850, according to a report sent to its clients.

“Reserves are at a critically low level, close to $1 billion. The risks are the highest since Sergio Massa took over as head of the Ministry of Economy. We see an exchange rate of $485 by the end of the year″, BofA wrote.

The US financial giant also forecasts that the official wholesale dollar will jump from 256 pesos next June to $314 in September, after the PASO elections in August.

In the medium term, BofA believes that during the first quarter of 2024, with a new president in Argentina, the official wholesale dollar will rise to $570 pesos and the blue to $912.

Learn more – Follow the price of the blue, official, CCL and MEP dollar in Argentina

Blue dollar: what happened to the price after the announcements?

At the beginning of May, the blue dollar made a new jump and is trading at $474, above the MEP dollar and the CCL.

The informal dollar jumped $74 in April after reaching $500 intraday, although it ended the month with tense calm at $469, amid official interventions in the dollar financial market and after the Central Bank (BCRA) raised the week passed its reference rate by 1,000 basis points.

so far 2023the blue dollar accumulate a raise of $128 after closing 2022 at $346.

It should be noted that in In January, the informal dollar advanced $35 (+10.1%), while in February it accumulated a fall of $6 (-1.6%). In turn, in March it registered an increase of $20 (+5.3%). In 2022, it advanced $138 (+66.4%) after closing 2021 at $208.

Source: Ambito

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