‘Blue’ dollar opens with a slight rise after devaluation of the official exchange rate in Argentina

The price of the dollar in Argentina’s informal market reacted this Wednesday with a slight rise at first economic adjustment measures announced the day before in Argentina, including the 50% devaluation of the official exchange rate.

At the opening of the market, the so-called ‘blue’ dollar (informal) rose 80 pesos this Wednesday and was placed at 1,150 pesos for sale, 7.48% more than at the close of Tuesday.

On the first day after the announcement of the first package of economic measures of the Libertarian Government Javier Mileithe ‘parallel’ dollar once again surpassed the 1,000 peso barrier, but the exchange rate gap with respect to the official one was reduced to 40.2%.

In the formal market, the dollar, which started at 800 Argentine pesos, according to the previous announcement by the Executive, was placed at 820, only 2.5% more than the figure offered the day before by the Minister of Economy, Luis Caputo. , but 104.74% higher than on Tuesday.

Dollar quotes in financial mechanisms for the most sophisticated investors experienced uneven increases.

The stock market dollar – which consists of the purchase of bonds in pesos and, after the acquisition, their sale in dollars – rose 1.87% to 1,069 pesos.

For its part, the wholesale dollar experienced a rise similar to that of the official dollar and remained at 818 pesos.

The so-called ‘counted with settlement’ dollar -CCL, which consists of buying locally with Argentine pesos or bonds and selling them in dollars on Wall Street- was quoted 11.07% above its value at the close of Tuesday, at 1,044 pesos.

The dollar in which the exchange rate jump advanced by Caputo appreciated the most is the so-called ‘tourist’ or ‘card’, which is used to pay for consumption with a debit and credit card abroad: its value rose by 104.74 % to exceed 1,300 Argentine pesos per dollar at the opening on Wednesday.