Argentina: “Blue” dollar breaks another record

Argentina: “Blue” dollar breaks another record

The so-called “blue” (a euphemism for “black market”) dollar in Argentina broke another record Thursday and closed at AR$ 553, it was reported in Buenos Aires. In some provinces such as Buenos Aires and Santa Fe the quotation went up to AR$558, according to local media.

The gap with the official quotation thus stood at 101.32%. So far this year, the blue dollar went up AR$ 206 after closing 2022 at AR$ 346.

Meanwhile, the credit card dollar with a 30% PAÍS tax surcharge and a 45% collection on account of the income tax was set at AR$500.15, while for purchases over US$ 300, which have an additional 25% tax, it traded at AR$571.60.

Argentina’s Central Bank (BCRA) bought US$219 million Thursday in the single and free exchange market (MULC), marking the fourth consecutive round with a positive balance, in a day in which the agricultural dollar contributed settlements for US$ 271 million for a total US$550 million in purchases over the last four days.

Thursday’s transactions were part of the measures announced by the Economy Ministry to strengthen the country’s reserves, after increasing from AR$300 to AR$340 the differential exchange rate for agricultural exports until Aug. 31 within the Export Increase Program (PIE) launched in April to improve fiscal revenues affected by the drought.

The BCRA also participated in the yuan round with sales of 13 million yuan (around US$ 2 million).