Dollar Watch: Blue Dollar Dips as Central Bank Gobbles Up Reserves
The blue dollar eased on December 5th, marking a notable decline of $25 from the previous day’s closing price. This parallel currency now sits at $1,155 for sale and $1,035 for purchase.
Meanwhile, MEP USD traded alongside GD30 bonds at $1,061.21, while the US dollar’s settlement and redemption price stood at $1,087.22. In the cryptocurrency realm, the US dollar averaged $1,083.
The unified exchange rate quotation settled at $1,652.80 USD.
Official Exchange Rate Holds Steady
The negotiated US dollar, excluding tax, averaged $1,043.32 across major banks. Banco Nación specifically listed it at $1,033. Wholesale dollars, on the other hand, clocked in at $1,013.25 per unit.
Central Bank Reaches for Reserves
The Central Bank returned to the market to purchase US dollars. Financial institutions embraced this opportunity, buying up $73 million. Despite this injection of funds, the bank ended the day with a total reserve balance of $31.533 billion.
How have the actions of the Central Bank influenced public perception and behavior within the “blue dollar” market?
**Host:** Welcome back to the show. Today, we’re talking about fluctuations in the Argentine Peso and the ongoing impact of the “blue dollar” market. Joining me now is Alex Reed, an economist who specializes in Latin American markets. Welcome to the program.
**Alex Reed:** Thanks for having me.
**Host:** So, the blue dollar saw a pretty significant dip today. What are your initial thoughts on this drop, especially in light of the Central Bank’s recent actions?
**Alex Reed:** It’s certainly an interesting development. The Central Bank’s intervention in the market, buying up dollars, seems to have had a noticeable impact. While it’s too early to say with certainty what this means long-term, it raises the question: is this a temporary fluctuation or something more significant?
**Host:** That’s the million-dollar question, isn’t it? Many are wondering if this dip represents a sign of stabilization or just a temporary blip. What do Argentines on the street think about this latest development? Do they see it as a positive sign, a cautious one, or maybe even a cause for more concern?
