November 20, 2014
‘Blue’ dollar jumps to 12.70 pesos; official rate rises
The “blue” dollar climbed 40 cents to 12.70 pesos today, after the government failed to reach an agreement with holdouts in New York to avert default. The official dollar closed up by a cent to 8.23 pesos in Buenos Aires City banks and foreign exchange offices.
Amid uncertainty over the ongoing negotiations between private banks and the holdouts, who continue to work on a deal after the talks with the government failed, operators seek refuge in the “blue” dollar in the parallel market.
The blue-chip swap fell back to 10 pesos while the stock exchange rate climbed to 11.35 pesos.