Parallel dollar climbs in Argentina and accumulates 8% rise in the week

The dollar quotation in Argentina’s parallel market registered a substantial increase of nine pesos (2.12 percent) on yesterday’s financial day and closed at 432 pesos per unit for sale to the public.

In the last week, the price of the US currency in the informal segment accumulated an increase of 8 percent, which according to local analysts, could be explained by a negative impact of the agricultural projections due to the intense drought.

The so-called “blue dollar” widened the difference concerning the currency quotation in the official market (exchange rate gap) to 98 percent.

The official wholesale dollar, used for foreign trade operations, closed today at 218.03 pesos, according to data from the Central Bank of Argentina (BCRA).

Other variations of the dollar were reported in the financial market, with a rise in the “Contado con Liquidación” (CCL) to 437.34 pesos per unit, being the highest price of the currency.

The CCL is a mechanism provided by the Argentine financial market that allows the acquisition of foreign currency by purchasing and selling government securities quoted in pesos.

On the other hand, the “MEP” dollar, which is the currency acquired through the sale of Bonds traded in the stock exchange, closed at 421.43 pesos.