Blue dollar quote and official dollar
The blue dollar closed its price this day 95.63% above the official dollar. It was listed at $285.00 to buy and $281.00 to sell. The value of the foreign currency in the official market was $143.64 and $151.64.
Compared to the previous business day, the blue registered a downtrend where it traded at $283.00 to buy and $287.00 to sell.
What is the blue dollar?
The Blue Dollar is the dollar obtained on the black market or parallel market. In Argentina, euphemisms are used to refer to this dollar and it is also called blue, parallel dollar or black dollar. This dollar is not bought at banks or official exchange offices, but is marketed in “caves” or sold by the traditional “trees” on the main streets of the center. The price of the blue dollar is generally higher than the price of the official dollar and the difference usually widens as exchange controls increase or restrictions on the purchase of dollars at the official price increase. The blue dollar market is insignificant in size compared to the rest of the foreign exchange trades. It essentially influences the emergence of social and economic expectations about a possible strong devaluation. It is a variable used to generate political and financial instability scenarios.
Dollar counted with liquid or leaking dollar
It arises from the value of the dollar that companies and wholesalers are willing to pay through the operation known as “cash with liquidation”. In this operation, shares of Argentine companies or public securities listed on the New York Stock Exchange are bought in pesos and sold on that market. This way they get dollar bills free of official restrictions, abroad of course, at a price much higher than the official price.