November 1, 2014
Blue dollar at 12.15 pesos after move to relax forex controls
After the government’s unexpected move to relax currency controls and amid thin volume trade, the black market dollar today climbed to 12.15 pesos to start a week in which the foreign currency will have the leading role in the economic scenario.
Meanwhile, the official rate remained unchanged at 8.01 pesos compared to its Friday closing price.
The black-market peso fell 7.25 percent on Thursday to close at 13.1 per dollar. On Friday, it rose 11.97 percent to end at 11.7 per greenback.
This morning, the new regime to purchase dollars was made oficial and its details unveiled: registered workers with a minimum wage of 7,200 pesos will be allowed to buy up to 20% of their income in dollars, with a limit for purchases set at 2,000 dollars per month.
So far the year, the US currency has accumulated a 22.8 percent rise.