Dollar Continues Unabated in Argentina and Government Points ‘Good’

“It is a constant practice of Argentine law,” Fernández told the press, convinced that these opponents “spread rumors in the morning, operate all day, and in the afternoon take profits from the foreign exchange market and inflict damage.” The accumulation of the majority of Argentines”.

During a press conference with his Romanian counterpart, Klaus Iohannis, the president of the republic visited the country: “We are experiencing a large-scale global crisis in Argentina, exacerbated by the drought problem, which is causing incalculable damage to the economy.” said.

The price of the “blue dollar”, which is sold on the black market in the unofficial market and serves as a reference for citizens due to the impossibility of reaching the official dollar in practice, rose by 33 pesos, reaching a new record from 495 lira. pesos per unit in an exchange run in the second week.

At the same time, the so-called financial dollar accompanied the increase, bringing the difference with the official rate to 118%.

Related note: Inflation and exchange rate tensions are rising in Argentina six months after the election

The dollar “counted at liquidation” (CCL, where stocks or bonds are bought locally in Argentine pesos and sold in dollars on Wall Street) rose 4.4% to 482.5 pesos per unit.

“Push Dollars” or “MEP Dollars” (both pesos and dollar-denominated assets paid for in pesos at time of purchase and sold in dollars on the Argentine stock exchange) rose 4.9% (470.97 pesos per unit) .

On the official foreign exchange market, the wholesale rate increased by 0.3% to 220.85 pesos per unit sold.

In this regard, Fernández Pesce, who is related to the head of state and not to the economy minister Sergio Massa, supported him at the head of the central bank after receiving him in the seat of government yesterday.

The economic team will travel to Washington in the coming days to negotiate with the IMF, an organization where Argentina has a $45,000 million refinancing program with quarterly targets that it failed to meet in the first quarter of 2023.

In that sense, Fernández said it was a “lie” that the IMF refused to postpone payments for the second half of the year because of the shortage of reserves that Argentina was suffering from.

The new rise in parallel exchange rates started after the spread of 104.3% monthly and 7.7% monthly monthly inflation last March.

This makes it difficult for the Peronist government to hold out until the primary elections in August and parliamentary elections in October.

Source: EFE.

Source: Ultimahora

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