The American currency traded half a cent higher and closed at 8.82 pesos in Buenos Aires City banks and foreign exchange offices. The dollar accumulates an eight-cent hike during this month (0.9 percent).
The Central Bank sold 20 million dollars today in an attempt to prevent any further rate changes. Yesterday it sold another 30 million dollars.
Meanwhile, the so called “blue” dollar dropped two cents to close at 12.79 pesos. Yesterday it lost another cent and now accumulates a 24-cent drop in March (-1.8%).
The gap between both rates now stands at 45%, half the difference registered in last September (90%).
The blue-chip swap rate plunged 26 cents to close at 11.75 pesos and the stock exchange rate dropped seven cents to 12.03 pesos.
Source: Buenos Aires Herald