The parallel ‘blue’ dollar crashed 20 cents today to trade at 14 pesos, while the official rate was also down in a session marked by banks trying to sell their dollar holdings following a Central Bank resolution unveiled yesterday.
The official dollar closed one cent down at 8.41 pesos in banks and foreign exchange offices while the blue-chip swap rate also fell 21 cents to 12.54 pesos.
The Central Bank had announced it would force private banks to get rid of dollar-denominated assets, lowering the ceiling on the percentage of their assets they can hold in foreign currency to 20 percent, down from 30 percent previously.
Source: Buenos Aires Herald