'Blue' dollar lowers to AR$8.45 after climbing 48 cents

The US dollar official trade rate ended half a cent higher today at AR$5.10 (buying price) and AR$5.11 (selling price) after yesterday Argentina's black market peso slid 5.5 percent to close at a record low against the so-called “blue” dollar.

Meanwhile, the black market took a huge step-back as the exchange trade rate for the "blue dollar" lowered 30 cents to AR$8.40/AR$8.45 per dollar.

Yesterday the so-called "blue dollar" that trades at the black market skyrocketed 48 cents compared to the previous day’s closing rate and 60 cents within the past two days, ending at AR$8.70 (buying price) and AR$8.75 (selling price) per dollar, bringing the difference with the official exchange rate to 71.7 percent.

The "blue" dollar -born after the national government's restrictions to the purchase of any foreign currency implemented almost two years ago- skyrocketed as result of AFIP’s tax bureau resolution issued on Monday indicating a hike to a levy on credit card purchases abroad by five percentage points to 20 percent –a measure that was also extended to holiday packages paid for at home.

The euro remained steady, trading at AR$6.55 and AR$6.72