Argentina’s ‘blue dollar’ drops after 10-day post-election surge

On Argentina’s recent financial trading day, the unofficial dollar price, also known as the “blue dollar”, decreased 20 pesos (2.56%), closing at 760 pesos per unit in the country’s leading exchange houses.

This shift marked a break from its consistent ascent over ten successive days and occurred for the first time since the primary elections on August 13.

The election saw the libertarian economist and deputy, Javier Milei, emerging victorious from the “La Libertad Avanza” party.

Concurrently, the official dollar’s value in the wholesale market, used for foreign trade and financial operations, concluded the day under 350 pesos per unit.

This came after a 21.6% devaluation by the Central Bank of Argentina post-elections. The public retail price for the official dollar also dipped, ending at 366.55 pesos.

Thus, the exchange rate difference between the unofficial and official dollar ranged between 107% and 118%, as reported by the Central Bank.

The financial dollars experienced mixed fluctuations, with the “dollar MEP” (Electronic Payment Market) increasing over 10 pesos to 662 pesos per unit, while the “Cash with Liquidation” rate decreased to 707 pesos.

Since the primary elections, the dollar price in Argentina has intensified its surge.

Even with Thursday’s decline, the currency in the informal market has witnessed a climb of 155 pesos or 25.6%.

This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error