The exchange rate tension is felt in the informal dollar market as the elections approach, something that is not surprising anyway, since Argentines tend to dollarize in the run-up to each election.
Regarding the rise of the blue dollar, today the Spokesperson for the Presidency, Gabriela Cerruti, affirmed that it is “the dollar does not increase, the blue dollar increases”, and attributed it to “political expectations.” Likewise, it considered that it should not affect the price of consumer products.
The blue dollar accumulated a rise of $ 2.50 last week, which was added to the soaring of $ 8.50, and the rise of $ 2 registered in the previous two weeks.
Likewise, throughout October it grew by $ 11.50 (+ 6.2%) due to high inflation, exchange controls, fiscal deficit and firm country risk, which fueled devaluation expectations and put pressure on the currency, which usually has jumps abrupt with just a few operations.
Anyway, so far in 2021 the parallel accumulates an appreciation of $ 33 (close to 20%), well below the accumulated inflation of 2021, close to 40%.
Let us remember that during September, the informal dollar rose $ 4.50 (+ 2.5%), after posting its lowest rise since March in August, climbing just $ 1 (+ 0.6%). After hitting a low of $ 139 in early April, the parallel dollar increased $ 9 in April (6.4%), $ 7 (4.7%) in May, $ 11 (7%) in June, and $ 12.50 (+ 7.4%) in July.
Source From: Ambito
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