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April 25, 2014
Wednesday, January 29, 2014

Blue US dollar jumps, official drops half cent

The US dollar soared 40 cents today in the black market to reach 12.90 pesos per dollar and continuing its upward trend, while the official rate fell half a cent to 8.01 pesos in banks and exchange offices in Buenos Aires.

Despite a trading day which saw little to no activity on the informal market, the 'caves' which buy and sell the 'blue' dollar maintained prices high in the hope of making a profit on greenbacks purchased beforehand.

The so called "Dollar Saving", which takes into account the official rate plus a 20 percent charge imposed on currency that is not deposited for at least one year after purchase, was worth 9.61 pesos at the day's close.

The national reserves, meanwhile, fell once more today, descending 181 million dollars over the course of the day. The Central Bank has seen stocks drop 543 million dollars in the last three days.

According to a Central Bank report, reserves have descended to a total of 28.5 billion dollars, compared to yesterday’s closing figure of 28.7bn dollars .

With a loss of 6.8 percent, or 2.06bn dollars, in January, reserves hit their lowest point since October 2006.


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Tags:  dollar  Argentina  currency  exchange  euro  blue  


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