Friday, March 24

The blue dollar rose $5 in January, but the gap remained from the end of 2021

After the announcement of the agreement with the IMF, the parallel dollar erased in just one day almost the total rise it had accumulated in the previous 8 days ($11.50). Let us remember that the informal dollar last week touched a all-time record face value of $223.50, before collapsing $10 on news of an IMF deal.

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.

Blue dollar price in the month

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.

Remember that in December the parallel dollar advanced 3.2% ($6.50), against a monthly inflation of 3.8%, according to INDEC. Likewise, in the accumulated of 2021 it had an increase of 25.3% ($42), half with respect 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- climbed five cents to $182.67. In this first month of the year, the price registered an advance of 2.2%, the highest since March 2021.

More news about the Blue Dollar and the Dollar

Dollar: the 5 most important challenges of the Central Bank

After the agreement with the IMF: Is calm coming to the dollar?

Despite the restrictions, the tourist dollar reached its highest level since 2019

How much should the blue dollar be worth according to analysts?