The so called “blue” dollar closed two cents up at 12.60 pesos, bouncing back after losing value the last three sessions. Yesterday, greenbacks in the informal market dropped three cents, hitting a low of 12.50 pesos during the session.
In Buenos Aires City foreign exchange offices and banks, meanwhile, the official rate of the dollar rose half a cent to sell at 8.935 pesos.
On Tuesday, the Central Bank sold off US$50 million in a move to balance the foreign exchange market.
Yesterday was the first time in more than a month that the Central Bank was forced to shear off reserves in order to keep the rate of the currency unchanged. International reserves closed at US$33.9 billion, US$7 million less than Monday’s close.
Source: Buenos Aires Herald