Two days post the Primary, Open, Simultaneous, and Mandatory (PASO) elections in Argentina, the unofficial dollar rate, commonly known as the “blue dollar”, experienced a further 6.5% increase, settling at 730 pesos per unit for public sale.
Since the primary elections, this rate has climbed by 20.6%, widening the gap from the official dollar value.
The official wholesale dollar, utilized for foreign trade and financial operations, ended the day at 350 pesos, aligning with the recent singular devaluation set by the Central Bank of Argentina (BCRA).
This rate will persist until the upcoming presidential elections in October.
Meanwhile, the official retail rate (for public sale) closed at 366.63 pesos per unit, as reported by the monetary authority.
This situation puts the disparity between the unofficial and the official (both wholesale and retail) rates at 109% and 99% respectively.
Financial dollars, emerging from stock market operations, also continued their upward trend.
The Electronic Payment Market (“dólar MEP”) concluded its trading day at 667.17 pesos, and the “Settlement with Liquidation” at 704.35 pesos.
The post election spike in the dollar’s value was particularly notable following the victory of the liberal presidential candidate, Javier Milei, of the “La Libertad Avanza” party.
Economic analysts hint that this win adds an element of uncertainty to the forthcoming presidential elections.