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Parallel dollar continues to rise in Argentina

The parallel dollar in Argentina continued its upward trend Tuesday and registered a new record of 357 pesos per unit for sale to the public.

So far this year, the quotation of the “blue dollar” has increased by 2.89%, after closing in December at 346 pesos.

Thus, the difference (gap) between the values of the currency in the informal and official markets reached 98% this Friday.

According to data from the official wholesale segment, the dollar was at 180.40 pesos per unit at the end of the financial day in the Central Bank of Argentina (BCRA).

Blue dollar. (Photo internet reproduction)
Blue dollar. (Photo internet reproduction)

Other currency prices in the unofficial segment continued a moderate upward trend or remained stable.

The so-called “stock exchange” or “financial” dollar, which refers to obtaining foreign currency through the stock market, was at the end of the day at 326.5 pesos, while the “Contado con Liquidación” (CCL) was at 334.4 pesos.

The “Contado con Liquidación” is a mechanism provided by the Argentine financial market which allows the acquisition of foreign currency through the purchase and sale of government securities quoted in pesos.

According to analysts recently consulted by the Central Bank, forecast that the official dollar will close this year, 2023, at 328.32 pesos per unit.

On the other hand, analysts quoted by local media foresee that the current year will be a year of challenges for the domestic economy with an impact on the quotation of the currency due to the need to reduce inflation, pay commitments to the International Monetary Fund (IMF) and debt holders, as well as the availability of reserves.

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