December 13, 2013
US dollar reaches 5.68 pesos; 'cave' drops to 9.25 pesos
The US dollar reached 5.62 pesos (buying price) and 5.68 pesos (selling price). Greenbacks rack up a 3-cent rise with devaluation is already hitting 15.3 percent. In the informal market, the foreign currency drops to 9.25 due to tightening government controls.
The informal market scenario shows different outlooks as so called exchange “caves” decided to halt their operations following the government’s crackdown on the informal dollar traders. Today's dropped to 9.25 pesos.
Meanwhile, Buenos Aires stocks edge up 0.34 percent with the Merval benchmark stock index at 3,935.89 points.