The blue dollar, after touching a floor of $195 averaging last week, began a bullish raid that took it to $205.50 in the opening day of the week. Although there are different views on this situation, the common factor is that the economy maintains its structural imbalances.
The price of the official dollar closed at $119.78, with a rise of nine cents compared to Friday, while the so-called “blue” dollar is trading with an increase of one peso, at an average of $204 per unit. Thus, the dollar with the 30% surcharge -contemplated in the PAÍS tax-, marked an average of $155.71 per unit, and with the advance payment on account of the Income Tax of 35% on the purchase of foreign currency, $197, 64.
The Blue Dollar rose to $205.50
Source: https://t.co/2VqbbK0ddh— Blue Dollar Value (@ValorDolarBlue) April 25, 2022
Eugenio Martí, Chief Economist of the Fundación Libertad y Progreso, maintained “On the one hand, since mid-2021 we have been in a kind of exchange “summer”. With increasing government intervention in the official market and parallels. This encouraged savings in assets in pesos, which had a high return in dollars”.
“But in recent weeks the equation has started to change. On the one hand, the BCRA has accelerated the rate of devaluation of the official dollar. In turn, the agreement with the IMF in March gave a respite, but very briefly, since it is increasingly clear that there will be no reforms to improve the business climate in Argentina; To make matters worse, government initiatives, such as the windfall income tax, add uncertainty and further decrease the demand for pesos,” he added to his reasoning.