November 25, 2014
US dollar rises to 8.18 pesos; ‘blue’ to 12.27
The US dollar closed today one cent up at 8.18 pesos in Buenos Aires City banks and foreign exchange offices. The “blue” dollar also rose, trading at 12.27 pesos.
The upward trend in the parallel market shows growing expectation among operators ahead of tomorrow's meeting between the government and US judge Thomas Griesa over its legal dispute against holdout hedge funds.
Last week, grain exporters sold off over u$s 578 million, totalling u$s 14.9 billions this year. On Friday, the Central Bank bought only u$s 10 million, in a market that traded u$s 157 million, less than the week’s average.
In the meantime, the blue-chip swap fell back to 9.93 pesos and the stock exchange rate went up to 11.16 pesos.