The blue dollar rises relentlessly and reaches $1,500: up to what price can it climb?

He Blue dollar scales $80 and is quoted at $1,500 this Friday, July 12, and thus marks its intraday nominal record price again. The rise in recent days is marked and abrupt, since it had climbed $55 last week. In this way, the gap with is located at 62%.

A priori, The ceiling of the blue dollar would be the card dollar, which is quoted at $1,504, just $4 above the informal one.but it puts a limit on the parallel currency in theory, although, given the escalation that the blue has been marking, it could exceed that threshold at any time.

For now, the floor is being laid by the financial dollarswhich continue to rise in an attempt to match the blue. Meanwhile, future dollar contracts are also pushing upwards and for a devaluation, since with the gap above 60% these expectations are increasing.

Blue dollar without ceiling

Gustavo Quintana, from PR Exchange Operatorshe points out in dialogue with Ambit that, while it is difficult to make price forecasts, “For now, there is no very defined ceiling.“. According to him, the demand is still active and the supply is declining.

Seasonally, There is demand for tourismcard payments for purchases, “I think this will continue for a few more days, but we will see if that intuition is fulfilled,” concludes Quintana.

Quintana’s view coincides with that of the economist Federico Glustein, which suggests that the blue dollar “There is clearly no roof, nor are any measures being taken to ensure that there is one.“And he assures that the currency will continue on this upward path until demand tends to decline.

“Today, pesos are still on the market and triggering parallel quotes. The turning point is probably more towards the end of the month than in these turbulent days,” concludes Glustein.

For the analyst, known as the “blue guru”, Salvador Di Stefano“if Javier Milei does not issue, we will have a brutal recession, but the dollar goes down.” That is a great dilemma for the Government today. But, on the other hand, he considers that “The $1,500 dollar, on par with the tourist rate, is crazy“.

For Eric Paniaguafrom EPyCa Consulting, the rise of the blue dollar is due clearly lowering the local interest rate. And for the analyst, whether it was the government or the Central Bank, “it made a mistake in making such an aggressive reduction, encouraging or prompting many holders of fixed-term deposits to dismantle them and go for the blue dollar or the dollar in general,” which is the opposite of that type of investment.

“The majority or the bulk of non-specialized Argentines invest in fixed terms, so when they saw that their profitability was affected they began to actively buy dollars, something that is reflected in an increase,” he says. Thus, for Paniagua, the dollar “will not loosen“on its upward trend as long as the interest rate remains relatively low, especially knowing that inflation in June will probably have accelerated.