blue dollar and official dollar price
The blue dollar closed its price at $328.00 for buy and $338.00 for sale, while the official price was $130.61 and $136.61 respectively, making the difference between the official and blue dollar 151.13%.
As compared to the previous trading day, where Blue was trading at $328.00 to buy and $338.00 to sell.
What is a blue dollar?
Blue dollars are dollars that are received in the black market or parallel market. In Argentina, this dollar is used euphemistically and is also called the blue, parallel dollar or black dollar. This dollar is not bought in banks or official exchange houses, but is marketed in “caves” or sold by the traditional “little trees” in the main streets of the city. The price of the blue dollar is generally higher than the official dollar price and the official price rise has a tendency to increase the gap as exchange controls increase or restrictions on the purchase of dollars. The blue dollar market amount is insignificant compared to the rest of the currency operations. This basically has an effect on the generation of social and economic expectations about a potential strong devaluation. It is a variable used to generate political and financial instability scenarios.
Dollars are counted with liquid or leaked dollars
It arises from the dollar value that companies and wholesale buyers are willing to pay through an operation called “liquidation with cash”. 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. Thus, of course, they obtain dollar bills abroad, free from official sanctions, at a price much higher than the official value.