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April 17, 2014
Friday, January 24, 2014

Dollar rises to 8.015 pesos after restrictions ended

The US dollar rose half cent today to 8.015 pesos (selling price), following the announcement from the national government that the purchase of the foreign currency for personal use would be once more permitted across Argentina.

Early trading had seen the dollar sold at prices up to 8.18 pesos, before rates fell back later in the day.

From Monday, individuals will be able to buy dollars for saving purposes with authorisation from the AFIP, leading observers to watch attentively the reaction of exchange markets over the course of the day.

The parallel 'blue' dollar, on the other hand, plummeted in a day where few unofficial outlets were prepared to sell. From an overnight selling price of 13.10 pesos, rates of 9.70 pesos (buying) and 11.70 pesos (selling) were being recorded today.

Yesterday, the peso devalued a massive 86 cents against the dollar, the biggest drop since 2002.

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Tags:  Argentina  economy  dollar  


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