He The blue dollar climbed to a new nominal record this Monday, July 8, at the close in $1,410 for purchase and $1,440 for saleaccording to a survey by Ambit in the caves of the city.
After accumulating a $55 advance last week, the parallel currency went up another $20. The rise moderated as the hours passed, since Halfway through the session, the price reached an unprecedented $1,450.
In this context, the informal rate separated from the CCL and the MEP, which are losing ground in this round, and became the most expensive parallel exchange rate on the market. The gap with the official dollar stood at 56.8%, the highest value since the devaluation implemented in December by the Government of Javier Milei.
Let us remember that in June the blue leap $140 (+11.4%) And by May, this exchange rate had already climbed. $185 (+17.8%), after three months with slight fluctuations.
Context for the rise of the blue dollar
The blue jump is linked to the The lack of confidence in the market regarding the sustainability of the exchange rate policysince while the Central Bank (BCRA) maintains a monthly adjustment rate of 2% for the official dollar (below the inflation rate), it is unable to accumulate sufficient reserves to support this real appreciation of the local currency.
This creates uncertainty, especially considering that significant public debt obligations are approaching and that in the third quarter, dollar income from exports is usually low.
However, at his last press conference, the Minister of Economy, Luis Caputo said that he will keep the “crawling peg” and the “blend”a scheme whereby 20% of external sales are settled in the CCL market. He also announced the start of “phase 2” of the economic plan, which includes the elimination of issuance of remunerated liabilities by the Central Bank.
“The government is trying to convince the market that the programme does not require modifications, confident that the good results achieved in the first half of the year will continue in the second half,” said clearing and settlement agent Cohen.
“Cleaning up the BCRA’s balance sheet is a necessary step, but not enough, since in monetary terms, it does not change whether the creditor is the BCRA or the Treasury. The evident tension in the exchange market puts pressure on international reserves, which is bad news, even more so when in the second half of the year there is a significant burden of debt maturities in foreign currency.”he added.
How much is the official dollar trading today, Monday, July 8?
In the official exchange market, the wholesale dollar rose 50 cents to $918.50 per unit.
How much is the dollar futures trading today, Monday, July 8?
In the contracts of future dollarthe quote for the end of July fell 0.2% to $940.00toward August gave up 0.4% to $976.50 and to September showed a decrease of 0.3% to $1,024. For end of the year fell by 0.1% to $1,195.50.
How much is the MEP dollar today, Monday, July 8?
He MEP dollar quoted at $1,386.90, so the gap with the officer reached 51%.
CCL dollar value today, Monday, July 8
He dollar Cash with Settlement (CCL) is sold at $1,385.33 and the spread with the officer was located in the 50.8%.
Price of the dollar card today, Monday, July 8
He dollar card or touristand the dollar savings (either solidary) climbed to $1,498.40.
Crypto Dollar Price Today, Monday, July 8
He crypto dollar or Bitcoin dollar operates to $1,399.83according to Bitso.
Source: Ambito
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