The blue dollar is quoted at $920.00 for purchase and $970.00 for sale, while the official price is $347.94 and $367.94, respectively, which brings the gap between the official and the blue dollar to 164.41%.
Regarding the last business day, the blue remains with a downward trend: it registered $940.00 for purchase and $990.00 for sale.
What is the blue dollar?
The Blue Dollar is the dollar that is obtained on the black market or parallel market. In Argentina, euphemisms are used to refer to this dollar and it is also called blue, parallel dollar or black dollar. This dollar is not bought in banks or official exchange houses, but is sold in “caves” or sold by traditional “little trees” on the main streets of the downtown area. The price of the blue dollar is generally higher than the price of the official dollar and the gap usually increases as exchange control increases or restrictions on the purchase of dollars at the official price increase. The blue dollar market is insignificant in amount compared to the rest of currency operations. It fundamentally influences the generation of social and economic expectations regarding an eventual strong devaluation. It is a variable used to generate scenarios of political and financial instability.
SME production in decline
The production of the SME manufacturing industry fell 6.4 percent in September compared to the same period last year, accumulating a decrease of 0.8 percent in the first nine months of 2023, according to a report prepared by the Confederation Argentina Medium Enterprise (CAME). Thus, in September the level of activity in the SME industry marked the fourth consecutive contraction in the year-on-year comparison.
SME production in decline
14:53 – Dollar today, The blue dollar drops by $20 pesos
Blue currency 164.41% over the official one. Purchase $920.00 and sales rate $970.00. The official dollar is quoted at $347.94 to obtain and $367.94 if you want to sell.
What are BCRA reserves?
They are the funds in dollars or other foreign currencies that the country has to be able to import, pay debt, intervene in the financial market or do tourism abroad, among other reasons. They arise from exports or credits to which the country has access and are controlled by the Central Bank of the Argentine Republic (BCRA). They can include public funds, such as those from loans, and private funds, such as those that savers have deposited in the bank, known as reserves: funds that have to be immobilized in the Central Bank to meet the demand for cash of its depositors and obligationists.
How will prices continue this year?
Inflation accelerated sharply in recent months, registering an increase of 12.4 percent in August and 12.7 percent in September. Page/12 spoke with Hernan Letcherdirector of the Center for Argentine Political Economy (CEPA), Martin Burgosmember of the Political Economy department of the Cultural Center for Cooperation (CCC) and Fabian Amicoresearcher at the UMET Workers’ Statistical Institute, to try to unravel what has been happening and, above all, could happen with prices in the remainder of the year.
How will prices continue this year?
14:06 – Dollar today, The blue dollar drops by $10 pesos
Unofficial dollar $930.00 for purchase and $980.00 for sale. Regulated dollar $347.94 and $367.94, in that order. The gap between these two types of dollars is 164.41%.
What is the MEP dollar or Stock Market
It is a dollar that is acquired through a legal operation similar to that of “contado con liqui”, with the difference that the currencies are kept in the country. It is done online: the investor buys a bond in pesos that is also quoted in dollars and sells it in foreign currency.
What is the Soy Dollar
With the aim of promoting the liquidation of soybean exports and strengthening the Central Bank’s reserves, the Government announced at the beginning of August 2022 a new regime for exporters of the oilseed. This special regime was extended and in September 2023 the fourth edition of the Soy Dollar was launched. In that case, 75% of the equivalent value of exports of soybeans and derivatives «must be entered into the country in foreign currency and negotiated through the Free Exchange Market (MLC), while the remaining 25% will be freely available.»
13:20 – Dollar today, The blue dollar drops by $10 pesos
Blue dollar 167.29 percent above the official. Purchase cost $930.00 and sales rate $980.00. The official dollar is $347.94 to purchase and $367.94 if you want to sell.
Causes of consumption recovery
What time does the dollar open and close?
The official exchange market, both wholesale and retail, operates from Monday to Friday from 10 a.m. to 3 p.m. Operations of the so-called blue dollar, as they are not regulated, do not have a fixed schedule, although they are usually carried out at the same times as in the official market.
12:33 – Dollar today, The blue dollar is trading stable
Unofficial exchange rate $40.00 for purchase and $990.00 for sale. Legal dollar $347.94 and $367.94, in that order. The gap between the official and the blue is -88.50 percent.
What is the wholesale dollar
It is the exchange rate that operates in the wholesale market, in which banks, foreign trade agents and authorized exchange houses operate. With this exchange rate, large-scale sales or purchases are made, so it is usually cheaper than the retail dollar. It does not have a sale price and a purchase price, but rather an entity offers to buy or sell dollars at some price and the other party accepts and validates that price.
Saving or solidarity dollar
It is the dollar that, with a purchase limit of 200 per month, people who are not inhibited can buy through home banking or through an ATM at the bank headquarters. Its value is that of the official dollar, plus 30% of the Tax for an Inclusive and Solidarity Argentina (COUNTRY) and an extra 45% on account of the Income Tax. This can be returned if the taxpayer completes the corresponding procedure with the AFIP. It is also known as the solidarity dollar.
11:50 – Dollar today, The blue dollar is trading stable
Unofficial dollar $940.00 to buy and $990.00 to sell. Legal dollar $347.94 and $367.94, respectively. The gap between the official dollar and the blue dollar is 170.16%.
What is the official dollar
It is the reference exchange rate in the country, the price of the dollar without any type of tax or extra. It is also called the “retail dollar”, the one that companies buy or sell to the bank to import. It is the value at which exports are settled, except for those that are framed in some special regime by the government, such as the Soybean Dollar.
They foresee a slowdown in prices
Most consulting firms foresee a slowdown in inflation. EcoGo reduced its inflation forecast for October from 10.2 to 9.8 percent, compared to 12.7 percent in September.
They foresee a slowdown in prices
11:04 – Dollar today, The blue dollar is trading stable
Unofficial dollar $940.00 to buy and $990.00 to sell. Official dollar $347.93 and $367.93, in that order. The gap between these exchange rates is 170.17%.
The government puts pressure on the oil companies
«If on Tuesday at 12 at night the fuel supply is not resolved, from Wednesday they will not be able to take out an export ship,» said Sergio Massa, Minister of Economy and presidential candidate of Unión por la Patria Sergio this Sunday. Massa. The ultimatum was directed at the oil companies whom he accused, without identifying them, of withholding fuel to force a price increase.
The government puts pressure on the oil companies