the blue dollar it jumped five pesos this Tuesday and hit $381 for sale, the highest nominal price reached so far. With an exchange rate differential of 107%, the informal sector puts pressure on inflation in January and February, which is around 6%.
New in development
For Argentine and Brazilian businessmen, the common currency for trade is the dollar
The trade revival between Argentina and Brazil has generated expectations in the private sector. Entrepreneurs in both countries believe the signed agreements are an important step forward on this path, but they also see limitations due to the differences between the economies and the lack of foreign currency in Argentina, as well as the policy changes. All of these factors warn that they make a common currency difficult.
“Because of Argentina’s scarce reserves, any agreement on bilateral trade in a currency other than the dollar will generate an advantage. The truth is that the hard currency for international trade is the dollar, the common currency already exists. Now, due to macroeconomic turmoil, Argentina has a dollar shortage, so seeking a bilateral trade facility bodes well,” said Everton Guimaraes Negresiolo, CEO of ArcelorMittal Acindar and president of the Argentine Chamber of Commerce, Industry and Services -Brazilian (Cambras ). Read more.
The blue dollar jumped to $381 on Tuesday and puts pressure on inflation in January and February
With a leap of five pesos a day, the blue dollar reached $381, the highest nominal price reached so far. With an exchange rate differential of 107%, the informal sector puts pressure on inflation in January and February, which is around 6%.
In the three weeks that have passed in January, the blue dollar has already risen by 10%: with this it takes the lead in the escalation of dollars that are deployed in the Argentine market. While the official one, which reaches 184.5 dollars in the wholesale segment, increases at a rate of 4.35%, the MEP rises by 7.9% and cash with liquidity, by 4.6%.
Charles Arterburn is a seasoned business journalist for News Rebeat, where he provides comprehensive coverage of the latest trends and developments in the world of finance and economics.