After surpassing the 14-peso mark yesterday, the so called «blue» parallel dollar rate dropped six cents today to close at 13.94 pesos in underground houses, ámbito.com reported.
Yesterday’s increase in the value of the dollar in the streets came on the same day as the Supreme Court rejected a request by the Economic Crime and Money-Laundering Unit (Procelac) to ban the blue-chip swap, which saw almost no transactions and rose two cents, closing at 13.29 pesos.
The CNV securities regulator rejected speculation that there would be imminent changes in the blue-chip swap and insisted the market was working normally.
The “blue” dollar accumulated 38-cent growth so far this week, a steep increase that started on Monday after raids on brokerages and underground exchange houses. The raids agreed with the complaint filed by Procelac’s head Carlos Gonella over the blue-chip swap, who said the transactions should be considered a crime.
Rumours over a supposed ban on blue-chip swap transactions led to an increase in the “blue” dollar exchange rate, amid higher demand. The currency even reached 14.08 pesos at noon but then dropped to 14 pesos after the Supreme Court’s rejection and the CNV’s press release, market sources told ámbito.com.
Meanwhile, the official rate ended half a cent higher at 9.15 pesos in banks and foreign exchange agencies. The gap between the «blue» and the official rate stands at 52.3 percent.
In addition, the Central Bank (BCRA) bought 60 million dollars. The blue chip swap rate traded at 13.29 pesos, six cents less than on Tuesday, and the stock exchange rate dropped nine cents to 13 pesos.
Source: Buenos Aires Herald