The blue dollar rises
After a morning without changes, at the stroke of noon the blue dollar experienced a rise.
The increase in the price of the dollar in the parallel market is 0.81%.
Now the US currency is trading in the informal market at $1,240 for purchase and $1,260 for sale.
Currency black market
It is an alternative market where foreign currencies, mainly dollars, are traded outside the control and regulation of official financial authorities. This market is characterized by operating outside the law, which often results in higher prices compared to the official market. Its existence and prevalence are due to several reasons. Firstly, the relevant percentage of “black economy” in the entire national productive movement (to avoid paying taxes or directly as a result of illegal activities), which leaves many economic agents without the possibility of resorting to legal markets. Among its defenders, the influence of strict exchange restrictions imposed by the government, economic imbalances, and a growing demand for hard currencies as savings or investment mechanisms in the face of local economic uncertainty stands out. In addition to impacting the economic stability of the country, the black currency market represents a legal risk for participants, since transactions are carried out outside the banking and financial legal framework. Unlike the Blue Dollar, which refers specifically to the US dollar in an informal but relatively accepted context, the black market can include a variety of foreign currencies, and is often associated with less transparent and more speculative economic activities.
Card operations continue down
Credit card transactions reached 7,877,139 million pesos in May, which implies a nominal increase of 170.8 percent compared to the same month last year, that is, about 100 points below accumulated inflation. according to the consulting firm First Capital Group.
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Dollar purchase and sale operations began
At the beginning of the last day of the week, the dollar shows no changes in its price.
The official dollar operates at $878 for purchase and $918 for sale.
In the parallel market, the blue dollar is trading at $1,230 for purchase and $1,250 for sale.
Uncertainty grows in the market
Dollar bonds averaged a 3 percent drop and the country risk continued to climb to close at 1,596 points. For its part, the panel of leading stocks fell 4.3 percent and has accumulated a decline of 9 percent so far this month in a general climate of uncertainty. Although there is no single cause capable of explaining this collapse, analysts agree that the lack of progress experienced by the different official projects in Congress is causing strong distrust among investors. The Central Bank bought just 20 million dollars and reserves closed at 29,416 million pesos, 50 million higher than on Wednesday.
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The price of the dollar today
The official dollar and the blue dollar start the day with the reference price at the close of trading on Thursday.
The official dollar is quoted at $878 for purchase and $918 for sale.
The blue dollar is at $1230 for purchase and $1250 for sale.
