The US dollar today edged up half a cent to 9.195 pesos in banks and foreign exchange agencies, while the so called «blue» dollar was down one cent at 14.94 pesos in underground houses, after climbing 30 cents yesterday, according to ámbito.com.
The parallel dollar rate accumulates a 45-cent rise in only three days, leaving the gap with the official rate at 62.5 percent, amid increasing uncertainty in the market, two weeks ahead of the PASO primary elections.
«There are few operations. People are buying greenbacks to cover themselves from an eventual devaluation after the elections, and there is also a need to buy dollars for the winter holidays,” market sources explained.
In addition, the blue chip swap rate dropped one cent to 13.24 pesos and the stock exchange rate decreased three cents to 12.98 pesos. The Central Bank sold 50 million dollars to stabilize the official dollar rate.
Source: Buenos Aires Herald