Argentine President Javier Milei downplayed this weekend from Sun Valley, Idaho, the importance of the “blue” (a euphemism for “black market”) dollar going up in his country. However, he warned of “difficult” weeks to come as his Government starts a new zero-money-issuing phase, which he dubbed “a new upgrade of the monetary policy.”
The Consumer Price Index (CPI) reached 4.6% last month in Argentina for a year-on-year 271.5%, according to a National Institute of Statistics and Census (Indec) survey released Friday. These figures also yielded a 79.8% increase in the first semester of 2024.
Argentine President Javier Milei has been in office for less than 4 months, more than enough time to turn things around for people in neighboring countries. Uruguayans who used to do their shopping across the border no longer find it profitable, while Argentines flocked to Chile over the Easter weekend to do theirs.
The strength of the dollar in alternative markets is once again exerting pressure on financial dealings on Thursday, with the exchange rate gap reaching 60%, posing challenges to President Javier Milei's economic plan amidst soaring inflation and increasing poverty.
The “blue” (a euphemism for “black market”) dollar rose AR$ 125 Tuesday on the first working day after Sunday's presidential runoff and once again pierced the psychological AR$ 1,000 barrier upwards, closing at AR$ 1.025 / 1.075 (buy/sell), thus getting closer to its historical AR$ 1,100 high for a gap of 202% with the official quotation.
The “blue” (a euphemism for “black market”) dollar has fallen sharply against the Argentine peso this week after Sunday's elections and the subsequent fracture within the opposition JxC coalition regarding whether to support or not Libertarian Congressman Javier Milei's bid against Economy Minister Sergio Massa at the Nov. 19 runoff.
Argentine authorities Tuesday arrested Ivo Rojnica, a.k.a. “The Croatian,” who is believed to be the mastermind behind the US dollar black market, commonly referred to as “blue,” it was reported in Buenos Aires.
The “blue” (a euphemism for “black market”) dollar stood at AR$ 1,100 Monday, an AR$ 200 increase from Friday's quotation, after Sunday's elections which saw Economy Minister Sergio Massa and Libertarian Congressman Javier Milei advance to the Nov. 19 runoff, it was reported in Buenos Aires.
The “blue” (a euphemism for “black market”) dollar plunged on Wednesday, closing at AR$ 885/905 (buy/sell), down from AR$ 985 the previous day, after the extension of the swap with China was announced and raids on illegal exchange parlors known as “cuevas” (caves) intensified, leading to new arrests, it was reported in Buenos Aires.
The “blue” (a euphemism for “black market”) dollar pierced the AR$ 1,000 threshold downward and closed Thursday at AR$ 980 after law enforcement raids at unofficial exchange parlors led to at least six people arrested ahead of the 4-day weekend, it was reported in Buenos Aires.