The dollar price in Argentina’s parallel market continued its upward trend today, Monday, after registering a substantial increase of 20 pesos (4.52 percent) and closing at 462 pesos per unit in the country’s leading exchange houses.
The also-called “blue dollar” reported an increase of 15.5 percent after accumulating an increase of 10.5 percent last week.
After the new increase, the difference between the value of the U.S. currency in the official and informal segments reached 110 percent.
In this sense, the official wholesale dollar reported by the Central Bank of Argentina and used in foreign trade operations closed Monday’s financial day at 220.24 pesos per unit.
Other currency quotations in the non-formal segment, specifically those acquired by citizens who operate in the Stock Exchange, climbed at a similar pace to the “blue”.
Financial dollars closed, in the case of the “Contado con Liquidación” (CCL) at 464.48 pesos, while the “MEP” (Mercado Electrónico de Pagos, Bolsa) closed at 447.85 pesos.
The CCL and the MEP are mechanisms that allow the acquisition of foreign currency through the purchase and sale of government securities and their subsequent sale in dollars.
They differ in that the CCL includes bonds, and shares outside the Argentine market must include an account abroad.
The substantial rise of the parallel dollar occurs amid a productive scenario, such as the lower agricultural projections for the country as a consequence of the intense drought, and given a political system, such as the upcoming internal elections before the presidential elections.