He EUR quote this Sunday 28 May at $252.79 to buy and $252.87 to sell, so it remains stable from the last price.
As for the currency in the parallel market, the blue euro today it is trading at 524.65 for buying and 530.02 for selling. Therefore, its price increases compared to the last reported one.
With these values, the split between the blue euro and the official euro it is 108%.
He value of the blue euro it has a substantially greater difference with the official euro since the latter is what can be bought in banks and has a set price.
Why is it called blue euro?
Like the blue dollar, the blue euro It is what circulates on the black market and usually has a higher value than the official one. An explanation of its name indicates that it is so called because in English “blue”, in addition to naming the color blue, refers to something “dark”. This way the currency exchange is recognized outside the exchange system.
The term blue euro has been used since 2011, as a result of the restrictions for the acquisition of foreign currency that began to be applied by the Federal Administration of Public Revenues (AFIP) and the Central Bank of the Argentine Republic under the government of Cristina Fernández de Kirchner.
I am limitations They gained new momentum in December 2019, after President Alberto Fernández’s announcements on the economic emergency law and deepened throughout 2020 with the exchange rate. This generates that the sectors traveling abroad opt for the purchase of euros in black marketthus generating an increase in the price of the blue euro.
Origin of the Euro
The euro was launched on 1 January 1999, when 10 countries set their exchange rates and handed over interest rate decisions to the new European Central Bank. Euro banknotes and coins entered circulation three years later.
The shared currency was seen as a solution to the continuing exchange rate disputes that had marked European policy after the Second World War and as a logical extension of the European Union’s tariff free trade area. Great Britain, in particular, has opted out, but 19 of the 27 EU countries use the euro as their national currency. Those that make up the euro area, also called the “Eurozone”, are:
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.