The “blue” (a euphemism for “black market”) dollar dropped to AR$ 467 Thursday after further announcements and measures from Argentine authorities, after reaching an intraday record of AR$ 497 on Tuesday. It is still an AR$ 72 peso (18.2%) increase for the month of April.
After the blue (a euphemism for black market) dollar reached nearly AR$ 500 on Tuesday, Superminister Sergio Massa's measures in order to avoid speculative maneuvers resulted in a drop to AR$ 474, it was reported in Buenos Aires.
By Mordechai Taji – Argentina's authorities are losing grip of the economy as the “blue” (a euphemism for “black market”) dollar hit AR$ 497 Tuesday before recoiling to AR$ 487, then bouncing back to AR$ 490, down again to AR$ 487 and back up once more to AR$ 495 amid growing unrest.
The blue (a euphemism for black market) dollar went up another AR$S 20 Monday to close at AR$ 462 and somehow match inflation in other items of the country's economy, which it was lagging.
The unofficial exchange rate known as “blue” (a euphemism for “black market”) between the Argentine peso and the US dollar crossed the psychological US$ 1 / AR$ 400 barrier Thursday just a few days after the “agro” rate was implemented in a move to curb the volatile parity.
The unofficial exchange rate -commonly referred to as “blue”- between the Argentine peso and the US dollar reached AR$ 393 / 397 (buy/sale) after an AR$ 7 jump Tuesday, thus hitting a new record, it was reported in Buenos Aires. The blue dollar went up over AR$ 20 since last month for an 84.6% gap with the official quotation, which is virtually off limits for over 95% of the population to buy but available for anyone wanting to export.
The most widely spread exchange rate between the Argentine peso and the US dollar -known as blue - went up AR$ 8 Tuesday hitting a new all-time high of AR$ 378 = US$ 1, it was reported in Buenos Aires.
Argentina's monetary authorities Tuesday announced the creation of the “agrodollar,” a special exchange rate for agrifood exporters to liquidate their revenues through formal channels at an exchange rate closer to the parallel (“blue”) quotation.
Argentina's monetary authorities Thursday launched an initiative whereby foreign tourists may sell up to US$ 5,000 through official banking channels at a rate as close as possible to the so-called “blue” dollar.
The Government of Argentina has adjusted the so-called PAIS tax from 35% to 45% as of Thursday to equate the exchange rate between the local currency and the US dollar to that existing in the unofficial “blue” market.