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'Blue' dollar plunges 25 cents to 14.64 pesos

24/07/2015 |
The "blue" dollar fell 25 cents today to 14.64 pesos, according to á, edging further away from the 15 peso barrier after passing that mark in sharp rises at the start of the week.

After climbing 54 cents last Monday, the parallel dollar rate halted four days of hikes yesterday pushed by the blue-chip swap dollar rate, which also dropped. Controls in the informal market also attempt to cap gains in the blue.

The blue-chip traded almost unchanged at 13.34 pesos, while the stock market dollars dropped 14 cents to $13.13.

The gap between the parallel and official dollar rates narrowed to 59.6 percent, as the official dollar rose half a cent to 9.175 pesos in banks and foreign exchange agencies. The Central Bank was forced to sell 40 million dollars of reserves to keep the valuation of the peso steady.

Source: Buenos Aires Herald

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