MercoPress. South Atlantic News Agency

Argentine peso keeps falling against unofficial US dollar

Tuesday's values pierced the AR$ 350 ceiling it had reached on July 27

The unofficial “blue” dollar traded for AR$ 355 Tuesday in Argentina, thus reaching a new record high. It was an AR$ $9 increase in one day, AR$ 30 in one week, and AR$ 41 so far in December.

Tuesday's values pierced the AR$ 350 ceiling it had reached on July 27, when it eventually dropped to AR$ 336 on the same day. After that, it fell to around AR$ 290 for about three months.

The exchange gap between the informal dollar and the wholesale exchange rate exceeded 100% for the first time in three months (on September 14) and reached 101.6%, it was reported in Buenos Aires financial circles.

Argentina's Central Bank (BCRA) purchased just over US$ 1 million Tuesday for an average official retail exchange rate of AR$183.12, 31 cents above the previous trading session.

From Tuesday's figures, the US dollar charged for purchases abroad through credit cards -including the 30% PAIS tax surcharge and the 35% Income Tax advance payment- reached AR$302.15 on average.

However, the dollar for expenses abroad -which has a 45% tax rate- stood at AR$320.46, while for purchases over US$ 300 -which has an additional tax of 25%-, it was at $366.24.