At the beginning of a short week ahead of Holy Week and a general strike called for tomorrow, the US dollar which trades in the illegal market or «blue» dollar as it is popularly known, dropped 16 cents today to 12.62 pesos after ending one cent lower last Friday.
It is the lowest price recorded for the parallel currency since June 30, 2014, hours before Argentina fell into technical default.
Meanwhile, the official rate ended one cent higher at 8.83 pesos in banks and foreign exchange agencies. The fall in the ‘blue’ helped tighten the gap between the two currencies, which now stands at 42.9 percent.
The Central Bank took advantage of a quiet trading day to buy 100 million dollars in the markets, boosting foreign reserve levels.
Source: Buenos Aires Herald