This Tuesday the Central Bank sold US$74 million to meet market demand. With this operation, the body has already got rid of US$1.628 million so far in March and lost US$2,688 million for the year.
These numbers deepen the hemorrhage of foreign currency, which has already led the Central to almost lose $6 billion of reserves so far in 2023, between sales on the market and payment of debts.
In the midst of the foreign exchange outflow, the blue dollar soared again on Tuesday, which jumped seven pesos and is trading at $397. With this, it becomes the most expensive parallel dollar on the market, ahead of the MEP dollar, which it trades at $380.5while cash with liquid is sold at $393.2.
There are several reasons that explain the rise of blue. The first is that the informal sector is lagging behind the evolution of inflation. So far this year, blue is up 14%, versus a price increase of about 21% for the first quarter. So despite the jump, it looks “cheap” in the face of the inertia that prices bring,
Added to this is the fact that the drought-fueled dollar shortage scenario increases uncertainty and stimulates dollarization, especially in an election year.
The latest measures announced by Minister Sergio Massa on the exchange of dollar bonds that public bodies such as ANSeS have today have raised tension in the market, which also affects the informal dollar.
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.