In Argentina, the parallel dollar value has reached a record high of 525 pesos per unit for public sale.
It has been steadily climbing, surpassing 500 pesos per unit on July 12, with the trend persisting.
This increase occurs in anticipation of the country’s elections on August 13.
The parallel “blue dollar” has an 87% exchange gap with the official dollar, which the Central Bank of Argentina (BCRA) reported at 281.35 pesos per unit.
Financial dollars, obtained by savers and investors through stock market transactions, have exceeded the blue dollar rates.
The “Contado Con Liquidación” (CCL) segment, which involves obtaining foreign currency by trading government securities in Argentine local currency, quoted a value of 533.22 pesos per unit.
The “MEP” or “Bolsa” (Electronic Payments Market, Exchange) dollar closed at 490.23 pesos.
This surge in the value of the US dollar coincides with the ongoing negotiations between the Argentine government and the International Monetary Fund (IMF).
The country aims to settle a total debt of 44,500 million dollars through a financial program agreed upon by both parties.