A sign indicates the price of the parallel dollar in a commercial establishment located in the Microcentro, the financial area of the city of Buenos Aires, capital of Argentina, on June 4, 2024. (Xinhua/Martín Zabala)
BUENOS AIRES, June 4 (Xinhua) — The price of the parallel dollar in Argentina advanced 30 pesos (2.4 percent) in today’s financial day, closing at 1,265 pesos per unit, accentuating the difference with respect to the value of the currency in the official market.
The so-called “blue dollar”, which registered an increase of nearly 18 percent in May, accumulated an increase of 40 pesos or 2.3 percent in the first two days of June, an increase that analysts in the South American country attribute to factors both political and economic.
The difference or exchange gap with respect to the official market was around 41 percent this day in the case of the currency used mainly in foreign trade operations, whose price reflects the Central Bank of the Argentine Republic (BCRA).
For its part, the gap widened to 35 percent with respect to the official retail dollar enabled for sale to the public.
A relevant fact was the increase in the so-called “financial dollars”, whose price results from stock market operations that include public securities, of which some segments closed above 1,300 pesos per unit.
The “MEP” or “Electronic Payment Market” segment ended the financial round at 1,284 pesos per unit on average while the “CCL” or “Cash With Settlement” at 1,307 pesos.
According to economic analysts cited by the local press, among the reasons that would explain the jump in parallel dollars in Argentina are political factors, such as the parliamentary treatment of the “Omnibus” Law, which has posed difficulties for the Executive, as well as economic factors such as the reduction of the reference interest rate.
Likewise, an eventual decrease in the liquidation of foreign currency by the agro-export sector corresponds to an increase in demand and greater pressure on the price of the dollar.
A man walks in front of a currency sales location located in the Microcentro, the financial area of the city of Buenos Aires, capital of Argentina, on June 4, 2024. (Xinhua/Martín Zabala)
People walk in front of a foreign exchange sales location located in the Microcentro, the financial area of the city of Buenos Aires, capital of Argentina, on June 4, 2024. (Xinhua/Martín Zabala)
