Therefore, the gap with the wholesale exchange rate, which is regulated by the Central Bank, ended the session at 103.6%.
After the announcement of the agreement with the IMF, last Friday the parallel erased almost the total of the rise that it had accumulated in the previous 8 days ($11.50).
In his recorded announcement, President Alberto Fernández explained that the agreement will not condition the country’s economic policies and that it will not imply an abrupt cut in public spending. “This agreement does not condition us, we will be able to act exercising our sovereignty and carry out our growth, development and social justice policies,” Fernández said.
Recent uncertainty over the deal had sent the dollar soaring in alternative markets (the blue reached $223.50 on Thursday), and hit Argentina’s sovereign bonds.
Blue dollar price in January
Starting from the sharp drop on Friday, the informal price reduced its monthly advance to 2.4%, again lower than the monthly rate of inflation.
Let us remember that in December, the parallel dollar advanced 3.2% ($6.50), against monthly inflation of 3.8%, according to INDEC. Likewise, in the accumulated of 2021 it had an increase of 25.3% ($42), half compared to the inflation of the period (50.9%). However, it is worth remembering that in 2020 it had shown a sharp jump of 111%.
What is the blue dollar?
The value of the blue dollar has a substantial difference with the official dollar, which is acquired in banks and has an established price. Its sale is in the informal market, without regulations or limits, and for this reason it is generally operated at a value greater than the official dollar.
Why is it called the blue dollar?
The origin of the blue dollar as a denomination for the operation of the banknote in the informal market is not clear. But there are theories.
An explanation of its name indicates that it is so called because in English, “blue”, in addition to naming the color blue, refers to something “dark”.
Another theory relates it to purchase operations through bonds or shares of companies known as “blue chips.” They also link it to the approximate color that appears when a fibron is applied to detect counterfeit bills.
Price of the savings or tourist dollar
The savings dollar or solidarity dollar -retail plus tax- fell just a penny to $182.66. In January, the price registered an advance of 2.2%, the highest since March 2021.
More news about the Blue Dollar and the Dollar
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After the agreement with the IMF: Is calm coming to the dollar?
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