While the US dollar official rate traded half cent higher today at AR$5.165/AR$5.22; the so called ‘blue dollar’ was 21 cents up at AR$10.04/AR$10.08 in the black exchange market reaching a new record-high.
Following last week’s trend in which it had skyrocketed 54 cents, the informal market is already making some buzz among government’s offcials, who had to go out to play it down and explain its interference within the exchange market and the country’s accounts is not relevant.
Nevertheless, the IMF yesterday released its Latin America & Caribbean Outlook in which bashed Cristina Fernández’s administration for its protectionist policies plus having a dual exchange market, thus projecting one of the lowest groth rates for the entire region.
Source: Buenos Aires Herald