Argentina: Parallel dollar price sets a record daily increase

On Wednesday, July 20, the US dollar price in Argentina’s informal market registered a record increase of 5% in a single day, widening the exchange difference compared to the official currency value.

The “blue” dollar closed the financial day at ARS 317 per dollar compared to ARS 301 at its previous value, reaffirming its upward trend since the last changes in the Ministry of Economy at the beginning of July.

On the other hand, the dollar price in the official segment closed at ARS 136 per dollar for sale to the public, according to data from the Central Bank of Argentina (BCRA).

Local media highlighted the BCRA intervention in the exchange market with sales of up to US$40 million to contain the demand for foreign currency.

The rise of the US currency began to accelerate on July 3 after the resignation of the former Minister of Economy, Martín Guzmán, and the subsequent appointment of Silvina Batakis as the new portfolio’s head.

With information from Xinhua

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