Argentina’s “blue dollar” rate jumped 33.6% in August

Argentina’s “blue dollar” rate jumped 33.6% in August, ending at 735 pesos per unit. This increase happened after the country’s primary elections.

The rate rose by 185 pesos from the start of the month and 130 pesos since the elections.

After the elections, Argentina’s Central Bank devalued the official dollar by 22%. This made the gap between the official and blue dollar grow.

By the end of August, the official rate used for foreign trade was 110% higher than the blue dollar.

The retail dollar was also 100% higher than the blue dollar.

The blue dollar reached record highs in August. On August 16, it traded at 795 pesos before markets closed.

The “Electronic Payment Market” (MEP) rate in August was 670.83 pesos. The “Spot with Liquidation” rate was at 732.63 pesos.

So far this year, the blue dollar rate has gone up 112.4%. It closed last year at 346 pesos per unit.

The blue dollar is an unofficial but widely recognized rate in Argentina. It’s often used for black-market transactions and to gauge economic sentiment.

Many Argentinians use it when the official rate is not available or favorable.

Argentina has long grappled with currency fluctuations. The gap between official and unofficial rates can signal economic instability.

Observers often watch the blue dollar as an indicator of public trust in the official currency and economic policies.