Dollar TODAY: Prices for December 24 – TyC Sports
News Context
At a glance
- As of december 24, 2023, Argentina is experiencing a significant disparity between the official dollar rate and the "blue dollar" (informal, black market) rate.
- Hear's a breakdown of the rates reported by various sources:
- Note: These rates are subject to change throughout the day.
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Argentina’s Dollar Exchange Rates: A Snapshot of December 24, 2023
Table of Contents
Current Dollar Exchange Rates (December 24, 2023)
As of december 24, 2023, Argentina is experiencing a significant disparity between the official dollar rate and the “blue dollar” (informal, black market) rate. This difference reflects a lack of confidence in the official exchange rate and the country’s economic policies.
Hear’s a breakdown of the rates reported by various sources:
| Exchange Rate | Source | Rate (ARS/USD) |
|---|---|---|
| Official Dollar | tyc Sports | ~360.50 (as of quote) |
| Blue Dollar | Page|12 | ~980 (as of quote) |
| Dollar MEP | Ambito Financiero | ~960 (as of quote) |
| Dollar CCL | Ambito financiero | ~1000 (as of quote) |
Note: These rates are subject to change throughout the day. The “blue dollar” rate, in particular, fluctuates rapidly based on supply and demand.
What Happened?
The widening gap between the official and blue dollar rates is a symptom of Argentina’s ongoing economic crisis. Several factors contribute to this:
- High Inflation: Argentina has one of the highest inflation rates in the world, eroding the value of the Argentine Peso.
- Capital Controls: Strict capital controls imposed by the government limit access to US dollars, driving up demand on the black market.
- Political uncertainty: Political instability and uncertainty about future economic policies further fuel the demand for US dollars as a safe haven asset.
- Debt Burden: Argentina’s substantial foreign debt burden adds to economic pressure and weakens the Peso.