In Argentina, the main effects of the measures taken by the national executive at the macroeconomic level have resulted in a new rise in the price of the informal dollar, popularly known as Blue dollar.
According to the portal of the newspaper La Nación in the Latin American nation, the retail exchange rate for the blue dollar is located at $391.00 for sale, 54.28% more than the official dollar price issued by the government in Argentine pesos.
According to the local media, The increase in the value of the dollar has been caused mainly by the Kirchner government’s announcement that public bodies must exchange their titles in foreign currency (dollars) for similar ones denominated in Argentine pesos.
The exchange amount amounts to USD 4,000 million and with this measure the government seeks to stabilize the prices of cash dollars and the MEP, which has driven the exchange rate gap in recent days amid hyperinflationary winds. after the latest figures published by the Central Bank of the Argentine Republic that exceed three digits.
BONDS FALL AFTER THE GOVERNMENT ANNOUNCEMENT
👉 The sovereign titles that operate abroad open the day in red, after the Government announced that public organizations must exchange their titles in hard currency for others in pesos https://t.co/7yM4k6tHoO pic.twitter.com/qBdkWdKu6j
— THE NATION (@LANACION) March 22, 2023
Following the measure announced by the Minister of Economy, Argentine sovereign bonds started today’s session, Wednesday, March 23, 2023, with strong losses.
The current price of the blue dollar in Argentina shows a decline of four points, after the day of the On Tuesday, it reached its maximum historical value of $394 at closingalthough some users on twitter pointed out that it was trading at $435 in some ‘caves’ (name to indicate the clandestine sites for buying/selling currency in the country).
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