October 25, 2014
'Blue' dollar leaps 35 cents after gov't debt announcements
Following the government’s proposal to change the debt’s jurisdiction from New York to Buenos Aires, the US dollar closed three cents up to 8.33 pesos in banks and exchange offices of the City, while the "blue" rate added a massive 35 cents to trade at 13.55 pesos.
The parallel currency was driven by rises in other dollar rates, as investors digested President Cristina Fernández de Kirchner's project to skirt judge Thomas Griesa's ruling that Argentina could not pay restructured bondholders.
The blue-chip rate climbed 41 cents to 12.19 pesos, while the stock market dollar jumped to 13.10 pesos, 35 cents up from yesterday.
Last week the informal dollar rate broke a new record, with a 40-cent climbs.