October 23, 2014
Informal rate breaks new record at 13.20 pesos, US dollar steady at 8.29
The informal rate continued its rising path today, with a new record climb to close at 13.20 pesos. The so-called “blue” dollar had jumped 20 cents to 13.15 pesos yesterday, breaking its 13.06 pesos record from January, 23.
Lower interest rates and growing uncertainty among investors over the country’s battle against its holdouts creditors boosted the parallel rate hike.
The blue-chip swap rate went up and closed at 11.60 pesos, while the stock exchange rate dropped to 12.54 pesos.
Meanwhile, the US dollar traded steady at 8.29 pesos in Buenos Aires City banks and foreign exchange offices.
The Central Bank ended the day with a US$10 million net buy, the lowest since July 18.