The US dollar closed up half a cent to 8.945 pesos in Buenos Aires City banks and foreign exchange offices, continuing last week’s upward trend.
In the previous five days, the currency had risen two cents as the ‘micro-devaluations’ pushed by the Central Bank continued in place. The entity purchased 10 million dollars on the market to keep the currency from rising more sharply.
Meanwhile, the so called “blue” dollar fell five cents to 12.52 pesos, pushed by a higher demand for greenbacks with traders seeking to get the American currency for saving purposes, something usual at the beginning of each month.
That fall meant the gap between the two rates narrowed to 39.97 percent, falling beneath the 40 percent mark.
The blue-chip swap rate dropped five cents to 11.95 pesos while the stock exchange rate fell by the same amount, to 11.76 pesos.
Source: Buenos Aires Herald