The Blue Dollar is trading around 1,000 Argentine pesos today, March 5

In a day marked by volatility and uncertainty, Argentina's blue dollar has depreciated against the country's currency, once again reaching the psychological level of 1,000 pesos per dollar.

This figure, which far exceeds the official value (set at around 850 pesos per dollar), reflects the persistent demand for the currency in the informal market.

Key factors that have contributed to this panorama

  • President's Statement: Dr. Javier Milei, President of the Republic, declared before Congress on Friday without specifying about the exchange measures, disappointing the market. Consequently, yesterday, Monday, the blue dollar depreciated sharply against the Argentine peso.
  • Massive sale of the business sector: Given the persistently pessimistic economic and financial situation, the business sector has opted for a strong sale of dollars. The increasing tax burden and difficulties in maintaining profitability have led companies to liquidate their foreign currency holdings.

Analysts warn that this appreciation of the Argentine Peso could be temporary, since the structural challenges of the Argentine economy remain present. High inflation, fiscal deficit and external debt are issues that continue to worry investors.

Source: Fx Street

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