Wednesday’s Trading Volume
- BUENOS AIRES (AP) — The official retail exchange rate for the U.S.
- This follows the implementation of a new exchange rate regime featuring a managed float between 1,000 and 1,400 pesos, without restrictions for individuals but with limitations for some...
- Banco Nación quoted the dollar at 1,110.00 pesos for buying and 1,160 pesos for selling.
Argentine Peso Fluctuates Under New Exchange Rate Policy
Table of Contents
- Argentine Peso Fluctuates Under New Exchange Rate Policy
- Argentine Peso Fluctuations: Your Guide to the Shifting Exchange Rates
- Frequently Asked Questions:
- 1. What is the official exchange rate of the U.S. dollar in Argentina as of April 16th?
- 2. What new exchange rate regime is in place?
- 3. How much did the exchange rate increase from the beginning of the week?
- 4. How does the official rate compare to the rate at Banco Nación?
- 5. What is the “blue” dollar and how did it perform?
- 6. How is the wholesale market affected by the new policy?
- 7. How are dollar futures contracts reacting?
- 8.What do market expectations predict for the official exchange rate?
- 9.What is the “gap” between the official and “blue” dollar rates?
- 10. What are the values for MEP and CCL dollars?
- 11. What about the card/tourist dollar and savings dollar?
- 12. What are the cryptocurrency rates related to the dollar?
- 13. What is leading analyst gabriel Caamaño’s take on the market?
- Summary Table of Key Exchange Rates (April 16th)
- Frequently Asked Questions:
BUENOS AIRES (AP) — The official retail exchange rate for the U.S. dollar in Argentina averaged 1,145.28 pesos for buying and 1,198.63 pesos for selling on Wednesday,April 16,according to a survey of financial institutions published by the central Bank (BCRA).
This follows the implementation of a new exchange rate regime featuring a managed float between 1,000 and 1,400 pesos, without restrictions for individuals but with limitations for some companies. The exchange rate reflects a meaningful increase from the beginning of the week, exceeding 11%.
Official vs. Parallel Rates
Banco Nación quoted the dollar at 1,110.00 pesos for buying and 1,160 pesos for selling.
The unofficial, or “blue” dollar, experienced a decrease in its selling price, though less pronounced than the official rates, according to a survey conducted by Amit in Buenos Aires.
Wholesale Market Impact
In the wholesale market, a key reference point, the dollar fell 78 pesos to 1,122 pesos. This represents a 6.5% decrease from tuesday’s close,following a surge of over 11% prior to the termination of the 1% monthly “crawling Peg” and the adoption of the floating band system agreed upon with the international Monetary Fund (IMF).
Futures Market Reacts
Dollar futures contracts registered substantial declines, ranging from 4.6% to 6.4%.Market expectations now price the official exchange rate at 1,152 pesos by the end of April,suggesting a 1.5% increase for the remainder of the month and a 7.2% accumulated monthly rise.
Looking ahead to the second half of the year,expectations point to an average monthly dollar increase of 2.5%.
“The short rates of the letters that had climbed a lot and the implicit of futures are already going down. Another like those of the fixed and active deadlines (credit), which had been left behind, are rising,”
Blue Dollar Details
The blue dollar was quoted at 1,260 pesos, placing the gap between the official and unofficial rates at 11.1%.
MEP and CCL Dollar Values
The MEP (mercado Electrónico de Pagos) dollar stood at 1,187.36 pesos, narrowing the gap with the official rate to 4.6%.
The dollar counted with liquidation (CCL) traded at 1,188.83 pesos, with a spread of 4.7% compared to the official rate.
Other Dollar Rates
The card or tourist dollar, and the savings dollar (also known as solidarity dollar), which includes a 30% surcharge deductible from income tax, were quoted at 1,534 pesos.
Cryptocurrency Rates
The crypto dollar, or Bitcoin dollar, was quoted at 1,219.88 pesos, according to Ripio.
Bitcoin performance
bitcoin, the most popular cryptocurrency, traded at $85,310, according to Binance.
Argentine Peso Fluctuations: Your Guide to the Shifting Exchange Rates
Argentina’s financial landscape is constantly evolving. Understanding the movements of the Argentine Peso (ARS) is crucial for anyone invested in or simply watching the country’s economy. This guide, drawing exclusively from the provided article, breaks down the key details and provides valuable insights.
Frequently Asked Questions:
1. What is the official exchange rate of the U.S. dollar in Argentina as of April 16th?
According to a survey of financial institutions published by the central Bank (BCRA), the official retail exchange rate for the U.S. dollar in Argentina averaged 1,145.28 pesos for buying and 1,198.63 pesos for selling on Wednesday, April 16th.
2. What new exchange rate regime is in place?
A new exchange rate regime has been implemented, featuring a managed float between 1,000 and 1,400 pesos.This regime has no restrictions for individuals but includes limitations for some companies.
3. How much did the exchange rate increase from the beginning of the week?
The exchange rate reflects a meaningful increase from the beginning of the week,exceeding 11%.
4. How does the official rate compare to the rate at Banco Nación?
Banco Nación quoted the dollar at 1,110.00 pesos for buying and 1,160 pesos for selling.
5. What is the “blue” dollar and how did it perform?
The “blue” dollar is the unofficial rate. The article states that it experienced a decrease in its selling price, although less pronounced than the official rates, according to a survey conducted by Amit in Buenos Aires.
6. How is the wholesale market affected by the new policy?
in the wholesale market, the dollar fell 78 pesos to 1,122 pesos. This represents a 6.5% decrease from the previous day’s close, following an initial surge. This shift followed the termination of the 1% monthly “crawling Peg” and the adoption of the floating band system agreed with the IMF.
7. How are dollar futures contracts reacting?
Dollar futures contracts registered substantial declines,ranging from 4.6% to 6.4%.
8.What do market expectations predict for the official exchange rate?
Market expectations now price the official exchange rate at 1,152 pesos by the end of April, suggesting a 1.5% increase for the remainder of the month and a 7.2% accumulated monthly rise. Looking ahead to the second half of the year, expectations point to an average monthly dollar increase of 2.5%.
9.What is the “gap” between the official and “blue” dollar rates?
The blue dollar was quoted at 1,260 pesos,placing the gap between the official and unofficial rates at 11.1%.
10. What are the values for MEP and CCL dollars?
The MEP (mercado Electrónico de Pagos) dollar stood at 1,187.36 pesos, narrowing the gap with the official rate to 4.6%. the dollar counted with liquidation (CCL) traded at 1,188.83 pesos, with a spread of 4.7% compared to the official rate.
11. What about the card/tourist dollar and savings dollar?
The card or tourist dollar, and the savings dollar (also known as solidarity dollar), which includes a 30% surcharge deductible from income tax, were quoted at 1,534 pesos.
The crypto dollar,or Bitcoin dollar,was quoted at 1,219.88 pesos, according to Ripio.Bitcoin, the most popular cryptocurrency, traded at $85,310, according to Binance.
13. What is leading analyst gabriel Caamaño’s take on the market?
“The short rates of the letters that had climbed a lot and the implicit of futures are already going down. Another like those of the fixed and active deadlines (credit),which had been left behind,are rising,”
Summary Table of Key Exchange Rates (April 16th)
| exchange Rate | Value (Pesos) | Source |
|---|---|---|
| Official (Buy) | 1,145.28 | BCRA Survey |
| Official (sell) | 1,198.63 | BCRA Survey |
| Banco Nación (Buy) | 1,110.00 | Banco Nación |
| Banco Nación (Sell) | 1,160.00 | Banco Nación |
| Blue Dollar | 1,260 | Survey by Amit |
| MEP Dollar | 1,187.36 | Article |
| CCL Dollar | 1,188.83 | Article |
| Card/tourist/Savings Dollar | 1,534 | Article |
| Crypto (Bitcoin) | 1,219.88 | Ripio |
| Bitcoin (USD) | $85,310 | Binance |
Disclaimer: This information is based solely on the provided article and is for informational purposes only. It is not financial advice. Exchange rates are subject to change, and you should consult with a financial professional for any investment decisions.