The US dollar ended half a cent higher today in banks and foreign exchange agencies at 9.145 pesos, while the «blue» parallel dollar rate climbed 15 cents and closed at 14 pesos, ámbito.com reported.
According to traders, underground agency owners speculated over the blue-chip swap rate and boosted the «blue» up. Earlier today it surpassed the 14-peso mark and traded at 14.20 pesos. Yesterday, it jumped another 20 cents. The gap bewteen the «blue» and the official rate now stands at 53.1 percent.
The blue-chip dollar market is undergoing heavier pressure from state authorities, as more raids against financial operators took place yesterday in downtown Buenos Aires following an announcement of the Economic Crime and Money-Laundering Unit (Procelac) about asking the Supreme Court to declare it illegal.
Asked whether the government was considering adopting heavier regulations against that market, Central Bank president Alejandro Vanoli said yesterday that no additional restrictions were being studied, but that the usual government controls against the illegal use of that market would continue.
“We will continue intervening to prevent the volatility we had some days ago, which I think is part of a political move during the presidential campaign,” Vanoli said.
Today, the Supreme Court has rejected an appeal by the Office of Economic Crime and Money Laundering (PROCELAC) against the purchase of so called blue-chip swap dollars, the foreign-exchange rate implied from trading in dollar and peso securities.
Argentina’s top tribunal considered “unacceptable” the presentation filed by the unit commanded by Carlos Gonella pushing to limit the access to the blue-chip swap, saying there was no crime and dismissing the PROCELAC’s appeal.
The blue chip swap rate was trading two cents up at 13.29 pesos, virtually paralyzed by control fears, while the stock exchange rate increased 14 cents at 13.09 pesos.
Source: Buenos Aires Herald