The sky is the limit for the “blue” dollar in Argentina

The sky is the limit for the “blue” dollar in Argentina

As underground exchange parlors were raided Thursday, the “blue” (a euphemism for “black market”) dollar soared against the Argentine peso, it was reported in Buenos Aires.

An AR$ 22 increase brought the US currency to AR$ 855 / AR$ 865 (buy/sell).

Meanwhile, the so-called Qatar dollar for transactions abroad with credit cards including a 30% PAIS tax and other surcharges on account of the income tax stood at AR$ 657.90 for operations exceeding US$ 300 per person per month. The “official” untaxed dollar was traded at between AR$365.5 (Banco de la Nación Argentina) and AR$ 367.09 (other private banks).

In this scenario, the gap between the official dollar and the blue dollar stood at 140%. The blue dollar is the one that circulates in the black market and usually has a higher value than the official dollar. It is not available in banks or official exchange parlors. The blue dollar exchange rate closes together with the official dollar: at 3 pm, from Monday to Friday.