Macroeconomy/Finance

The Central Bank had to sell $70 million to contain the price of the dollar

The Single and Free Market (MULC) dollar rose 15 cents to 63.3 pesos even though the Central Bank sold nearly $70 million. The tourist dollar – which carries the 30% surcharge for the Country Tax – rose 65 cents (0.8%) to 85.10 pesos, the official retail dollar rose 50 cents to 65.46 pesos. The blue dollar shot up to its historical high of 89.25 pesos. Implied exchange rates were up, and the exchange rate gap exceeded 40%, in a climate of growing risk aversion in the world. The BCRA’s International Reserves fell this Wednesday by $201 million to $44.04 billion.

Source: Ámbito

Categories: Macroeconomy/Finance