Continuing with last week’s rising path, the blue-chip swap rate climbed two cents to finish at 13.32 pesos, breaking a new record, while the stock exchange rate advanced to 13.40 pesos today, pushing the “blue” dollar up by five cents to close at 14.25 pesos.
The government intervened to keep the parallel rates down last week by selling bonds but not this week, causing record climbs in wholesale rates to push the “blue” dollar up once again in underground exchange houses in Buenos Aires City.
The Central Bank’s order to banks and financial institutions to report overseas payments which surpass 150,000 dollars affected total transaction amount, which was just around US$128 million today.
In the meantime, the US dollar traded steady and closed at 8.42 pesos in banks and foreign exchange offices.
The Central Bank ended with a net balance of u$s 20 millions yesterday, as its reserves went slightly up by u$s 3 millions to u$s 28,395 millions. Grain exporters sold off over u$s 285 millions in the first week of September.
Source: Buenos Aires Herald