Yesterday in Argentina, the parallel dollar fell by 20 pesos, a 2 percent drop that took it below 1,000 pesos for the first time in 2024.
Called the ‘blue dollar’, it hit 990 pesos at close, marking a 40-peso drop from early March.
Such a decrease narrows the gap to its smallest since December 2019. It compares to the official rate used in trade, which was 845.75 pesos.
The difference with the official rate for the public was about 11.2 percent. Likewise, financial dollars followed the blue dollar’s fall.
The MEP dollar was around 990 pesos, and the CCL dollar was at 1,024 pesos. In 2024, the blue dollar has fallen 35 pesos.
Experts say more exports and individual sales caused this. They link it to high inflation.
This drop matters as it reflects on the economy and inflation’s impact. It shows the dynamic between different dollar rates in Argentina.
Background
The closer rates between parallel and official dollars may temporarily ease trade activities by offering more predictability.
Moreover, the fall is driven by higher exports and individual dollar sales, pointing to persistent high inflation and uncertainty.
These issues affect spending power and have broader implications for Argentina’s economy, touching on investments and savings.
Grasping these shifts is vital for everyone involved in the country’s economy.