The informal rate of the US currency continued its downward path today, plummeting 45 cents to 12.65 pesos to mark its lowest valuation in the last three and a half months.
Meanwhile, the official rate closed unchanged at 8.52 pesos in Buenos Aires City banks and foreign exchange offices. The Central Bank was active in the day’s trading, purchasing a total of 90 million dollars.
The gap between the informal and the official dollar narrowed to 48.5% with the latest fall in the parallel price.
The suspension of two stockbrokers by the CNV securities watchdog and the decision of the Central Bank to subpoena firms and individuals for alleged breaches in the Criminal Foreign Exchange Regime have sparked fear in the parallel market. The higher demand of US dollars for savings in the legal market has also pushed the informal rate down.
The blue-chip swap rate rose eight cents to 12.78 pesos, while the stock exchange rate dropped 17 cents to 12.84 pesos.
Source: Buenos Aires Herald