The movements of the blue dollar are tiny, it crosses a barrier and appears symbolically bigger

2023-07-13 14:52:22

On Wednesday, the informal dollar topped $500, hitting a new all-time high, and the government responded by downplaying its impact. During the usual press conference, Gabriela Cerruti, the spokeswoman for the Presidency, stated that “informal dollar movements are insignificant even if they exceed a threshold and appear symbolically more important.”

Cerruti insisted that “in reality we are talking regarding changes of a few pesos, so the minister and his team are currently monitoring the situation, but they are quite small changes,” downplaying the issue.

The informal dollar traded yesterday at $498 for purchase and $503 for sale in the City of Buenos Aires, resulting in a gap of 90.49% compared to the wholesale dollar.

On the other hand, the official dollar (without taxes) was quoted at $262.50 for purchase and $275.50 for sale at Banco de la Nación Argentina (BNA).

As for other issues of the national situation, the presidential spokesperson also mentioned inflation in June, whose data would be published later by INDEC, the intervention of the General Inspectorate of Justice (IGJ) in the foundation linked to Patricia Bullrich, pre-candidate PRO’s presidential election, and the failed session in the Senate on Wednesday.

According to Cerruti, “private consultants and provincial and City of Buenos Aires statistics estimate that inflation is showing a downward trend and that the number will be significantly lower compared to the last measurement. This leads us to think that we are once once more on a downward path.”

Regarding the intervention of the IGJ in the foundation linked to Bullrich and the accusations once morest Massa, the official responded: “Massa is governing and assuming responsibility for the large number of issues that he must carry out in the best possible way. The IGJ identified irregularities in the foundation not 30 days ago, but some time ago. They solicited responses to consolidate the data and see what was not working in terms of transparency regarding certain numbers. It is an administrative procedure that we hope will be resolved as soon as possible.”

Finally, Cerruti criticized the opposition following the setback that Kirchnerism suffered in the Senate, declaring: “We need the opposition to sit on their benches and participate in the sessions. They have been paralyzing Congress since the beginning of the year for purely political reasons, without taking into account that many of the laws introduced are their own authorship. We ask them once more, in a democratic and republican way, as they like to say, that Congress is the place where they belong and to which they were elected. Go to work and vote for or once morest.”

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