On Wednesday, in the parallel market where the dollar reached the record price of 199 pesos, in the official market the exchange rate was 105.38 pesos per greenback, amid restrictions on the purchase of foreign exchange.
In the last 20 days, the so-called ‘blue dollar’ (parallel) jumped 15 pesos, increasing the gap with the official exchange rate to 99.2%.
Faced with the reopening of borders to foreign tourism this week, after 19 months of closure due to the covid-19 pandemic, the Central Bank decided to allow tourists to legally change up to $ 500 by opening an account and with the quotation of the MEP or ‘stock dollar’, as the exchange rate that results from buying government bonds is called and that this Wednesday was 181.32 pesos, much more favorable than in the official market.
The informal market, where the ‘blue’ dollar is traded, has a low volume of operations but functions as a sensitive indicator of expectations, ten days after crucial mid-term legislative elections.
Last week, Gabriela Cerruti had warned that “the blue dollar market is very small and is driven by expectations and rumors.” We do not believe that the rise has to do with any real vision of what is happening in the economy, do not stir up the ghost of devaluation, it will not happen, “he said at a press conference when asked by Ambit.
Source From: Ambito
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