Following the government’s warning against banks and financial agents who «speculate» with US dollar informal rates, the so-called “blue” dollar dropped 10 cents to 15.60 pesos today, while the blue-chip swap rate plunged 84 cents to 14.36 pesos and the stock exchange rate dropped 43 cents to 14.56 pesos.
News that Juan Carlos Fábrega would step down from his post as Central Bank president pushed the latter rates down even further, mirroring a fall of over 8 percent on the Buenos Aires stock market as rumours of his resignation towards the close of trading.
In line with the warnings, the national securities watchdog (CNV) carried out an inspection on Balanz Capital and Mariva Bank earlier today. Both financial entities were questioned yesterday by President Cristina Fernández de Kirchner over alleged speculation with dollar rates and money laundering.
Meanwhile, the official rate of the US currency rose three cents to 8.47 pesos in Buenos Aires City banks and foreign exchange offices following yesterday’s five-cents decline, the biggest in eight months, pushed by the Central Bank and Banco Nación, who sold u$s 40 million and u$s 60 million respectively.
Source: Buenos Aires Herald