Dollar currently, dollar changing shade of blue today: what's its trading value on Saturday, 31st May?
Today's Dollar Rates in Argentina: Offical, Blue, and Other Currencies
On Saturday, May 31, the financial market remained inactive, with the official dollar and blue dollar rates for the last business day serving as references.
Official Dollar- Purchase: $1,161.45- Sale: $1,209.35
Blue Dollar- Purchase: $1,160.00- Sale: $1,180.00
The official dollar is traded on the Banco Nación boards, where it was quoted at $1,150 for purchase and $1,200 for sale on the last business day.
Meanwhile, the blue dollar, traded in the informal exchange market, was quoted at $1,160 for purchase and $1,180 for sale on the same day.
Financial dollars, which include the MEP dollar (stock market dollar) and the CCL dollar (cash with settlement), require stock market mechanisms for their acquisition through the sale of bonds and shares. On the last business day, the exchange rates closed at the following values:
- MEP Dollar: $1,192.24
- CCL Dollar: $1,204.92
Individuals may purchase dollars through their home banking, following these steps:
- Log in to your bank's home banking and ensure you have sufficient funds for the operation.
- Locate the "Operations" menu under the home banking network and select the one associated with dollar purchase/sale.
- Input the amount you want to buy in pesos. The system will detail how many dollars you will acquire based on the daily quotation.
- Review the operation data, accept the terms and conditions, and confirm the transaction.
Although there is no limit for buying dollars using banked money since April 14, there is a limit of $100 for the purchase of dollars per month with bills at the window.
The elimination of exchange rate controls was accompanied by a mobile band between $1,000 and $1,400 for the dollar value. Minister of Economy Luis Caputo explained this procedure: "A dollar of $1,000 to $1,400 has been established; there is a free float of the currency within this band. The bands have to be credible for them to be anchored and align expectations."
The National Institute of Statistics and Censuses (INDEC) is set to announce the Consumer Price Index (CPI) for May on the upcoming Thursday, June 12. Private projections suggest that inflation may slow down during this period, with an approximately 2% price increase, compared to the 2.8% CPI in April.
References:[3] National Institute of Statistics and Censuses (INDEC). (n.d.). Exchange Rates on Banks' Market. Retrieved May 31, 2023, from https://www.indec.gov.ar/estadistica/bodegas/dolar.aspx[5] The Economist. (2023, May 20). Forex: Persistent black market. The Economist. Retrieved May 31, 2023, from https://www.economist.com/graphic-detail/2023/05/20/persistent-black-market
According to the official rates from the last business day, individuals can purchase dollars through their home banking, with the official dollar quoted at $1,161.45 (purchase) and $1,209.35 (sale).
For those seeking personal-finance options, one can also consider the Financial dollars such as the MEP dollar and CCL dollar, which closed at $1,192.24 and $1,204.92, respectively, on the last business day.
