The parallel dollar price in Argentina fell to a five-month low of 1,195 pesos per unit today, dropping 10 pesos from the previous day.
The “blue dollar” ended another week on a downward trend, influenced by ongoing government intervention.
State involvement in financial segments for currency acquisition continues to shape the market.
President Javier Milei’s administration also pushes forward with its capital declaration policy, aiming to bring undeclared funds into the formal economy.
The parallel currency saw a significant decline in the first week of October, falling by 40 pesos or 3.2 percent.
This downward movement has narrowed the gap between parallel and official exchange rates.
The difference with the “wholesale” official dollar, used mainly in foreign trade, now stands at 22 percent.
For the “retail” official dollar, available for public purchase, the gap has shrunk to 19 percent.
These figures come from the Central Bank of the Argentine Republic (BCRA), which closely monitors exchange rates. Financial segments for dollar acquisition also ended the week lower.
The “Contado Con Liquidación” (CCL), under BCRA intervention, closed at an average of 1,201.80 pesos per unit. Meanwhile, the “Mercado Electrónico de Pagos” (MEP) finished at approximately 1,187.30 pesos.
Parallel dollars in Argentina maintain a downward trend due to the government’s tight monetary policy.
This strategy prioritizes slowing inflation and achieving a fiscal surplus, key goals of Milei’s economic plan.
The government’s capital declaration measure has led to increased foreign currency deposits in the country.
This influx of previously undeclared funds has expanded the supply of dollars in the market, contributing to the current trend.
Argentine Parallel Dollar Hits Five-Month Low
More: Argentina news in English, every day from The Rio Times.
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error
In depth
Read More from The Rio Times