Wednesday, August 10

The dollar “blue” does not yield and is heading to 200 pesos

The blue dollar rose yesterday for the third consecutive wheel and crowned a new nominal historical maximum at $ 198 and was at the gates of the emblematic “200 pesos”. Thus, the spread with the wholesale exchange rate, which is regulated by the BCRA, stretched to 98.6% amid persistent demand for hedging, just over two weeks before the legislative elections. After suffering its first drop in 5 days on Monday, the parallel dollar increased by $ 4 between Tuesday and yesterday. Last week it had soared another $ 8.50. Factors such as high inflation, exchange controls, fiscal deficit and growing country risk, to which is added the political intrigue over the mid-term elections on November 14, drive the blue dollar, which, so far in October, has registered a advance $ 12 (6.5%). Anyway, in the year $ 32 appreciated (less than 20%), well below the accumulated inflation of 2021, close to 40%. During September, the informal dollar rose $ 4.50 (+ 2.5%), after posting its lowest rise since March in August, climbing just $ 1 (+ 0.6%).