The unofficial dollar rate in Argentina, commonly referred to as the ‘blue dollar’, reached a new peak of 600 pesos per unit, marking its highest ever in the nation’s major exchange houses.
Over the past week, the blue dollar surged by 26 pesos (4.52%), and this month alone it has risen by 50 pesos (9%).
This rate significantly contrasts with the official rate, standing at 101.4% higher.
When compared to the “wholesale dollar,” used mainly for financial and foreign trade transactions, the gap becomes even more pronounced at 110%.
Furthermore, the “financial dollar” rates, derived from stock market transactions, have also followed the upward trend of the blue dollar.
For instance, the “Contado Con Liquidación” segment ended the day at approximately 562 pesos per unit, and the “Electronic Payment Market” rate (MEP dollar) closed at 527.91 pesos.
Year-to-date, the blue dollar in Argentina has seen a rise of 254 pesos.
Local analysts suggest this increase might be due to upcoming primary and general elections and ongoing discussions with the International Monetary Fund (IMF) regarding approving a financial agreement.