Unofficial dollar rate reaches new record in Argentina

The unofficial dollar rate, known as the “blue dollar,” reached a new nominal record of US$566 for purchase and US$571 for sale in Buenos Aires, a rise of US$11 compared to the previous close.

This increase pushed the gap with the official exchange rate above 104%.

The dollar’s latest jumps come after a nearly 11% advance in July, exceeding the estimated inflation for the same period, which ranged from 6.5% to 7.7%.

Private consultants suggest that last month’s rise in the informal dollar impacted food prices, potentially putting more pressure on the Consumer Price Index (IPC).

Additionally, financial dollars were trading higher after new restrictions were imposed by the National Securities Commission (CNV) on foreign currency transactions through the Stock Exchange.

On Wednesday, further exchange controls were added, restricting the sale of sovereign bonds in dollars under specific conditions, which has been an area where the Central Bank has intervened.

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