October 25, 2014
'Blue' dollar climbs 18 cents to 14.38 pesos, hits new record mark
The informal rate continued its raising path today. The so-called “blue” dollar has advanced 18 cents to hit a new record at 14.38 pesos, pushed by speculation and hikes in the blue-chip swap rate and stock exchange rate.
The blue-chip swap rate advanced to 12.97 pesos, hitting a record mark as well, while the stock exchange rate closed at 13.16 pesos.
With today's increase, the gap between the official rate and the so-called “blue” dollar is at 71% and continues to deepen.
Meanwhile, the US dollar traded unchanged at 8.42 pesos in Buenos Aires City banks and foreign exchange offices, as the Central Bank kept a close eye on the market.
Total transactions reached US$173 million, while the Central Bank finished the day with a US$40 million buy. Dollar offer generated by exporters was enough to keep the official rate steady.
On Monday, the government had raised the interest rates in a move to redirect investors towards the peso. But the strategy failed as they rushed to the informal market.