August 30, 2014
'Blue' dollar falls 60 cents amid holdout talks
After the strong hikes it registered last week, the so called "blue" dollar which trades in the informal exchange market, today traded 60 cents lower at 11.80 pesos, pushed down by the ongoing negotiations between the Argentine government and the holdouts, according to analysts.
The “blue” dollar closed at 12.40 pesos on Thursday, the last business day before the National Flag Day holiday last Friday, when President Cristina Fernández de Kirchner called for “fair conditions” in the government’s negotiation with the holdout hedge founds and reiterated Argentina’s willingness to pay “100% of bondholders.”
Meanwhile, the stock exchange rate was 37 cents down at 11.06 pesos after ending up at 11.76 pesos last Thursday.
The US dollar official rate closed unchanged in banks and exchange offices, trading at 8.15 pesos.The Central Bank’s reserves went up by 5 million dollars on Thursday, totalling 28,874 millions of dollars.