Blue dollar near all-time highs in Argentina

The free market dollar (known as the “blue dollar”) is trading at 339 Argentine pesos (ARS) on exchanges in the South American country.

Thus, the U.S. currency in the Argentine informal market. is approaching its all-time high price near 350 ARS., reached on july 21.

The price of the blue dollar is relevant to Argentine bitcoiners and cryptocurrency users as the. called the “cryptodollar,” almost always replicates it or follows it closely. At the time of this publication, as can be seen in the CryptoNews price calculator, the “bitcoin dollar” is trading at 330.76 ARS.

The surge in the price of the blue dollar (or what amounts to the rapid devaluation of the Argentine peso) is attributed by analysts to several factors. These include: increased demand from savers who received Christmas bonuses; purchases of dollars for vacation travel abroad; excess pesos due to agricultural activity; or a lower supply of blue dollar due to the “tourist dollar” favoring those visiting Argentina with the exchange rate.

There are also those who see, in this rise of the dollar, signs of concern about signs of political instability.. The city of Buenos Aires and the national government are engaged in a legal battle over issues related to the federal co-partnership of the capital. Despite the Supreme Court ruling in favor of the city, tension continues.

In 2023 “there is zero chance that inflation will come down,” says economist

Economist Carlos Melconian gives a discouraging prognosis for the Argentine economy in 2023There is no chance of inflation going down and activity going up.”

Added to this is the fact that, starting from the middle of next year, “there is no chance that inflation will go down and activity will go up.” a climate of high socio-political tension will begin to emerge.Elections will determine who will be the nation’s next president.

The names of the candidates and their chances of winning will largely determine the direction the U.S. currency will take. This trend, measured in pesos, is almost always upward, although it may rise with greater or lesser momentum depending on circumstances.