Banking What is going on with the Blue dollar? Why is it going down?

[Billy Goat]

I never saw a country where things can change so much so quickly.

Yes very very true. Not a dull country. Many locals were selling dollars to pay bills but hopefully things are stabilizing. With the lower interest rates people are losing interest in investing it in their accounts. Inflation is still too high.

Dólar blue saltó $140 en solo 6 jornadas: cuáles son las causas del rebote y qué anticipa el mercado

Economistas y analistas financieros consultados por este medio coincidieron en que la baja de la tasa de interés impactó directamente en la suba del dólar blue, debido a que mantener pesos e invertirlos en plazos fijos es cada vez menos atractivo.

www.ambito.com

 

[Betsy Ross]

Blue and MEP are going up today as well. This may be a start to a mini-trend.

 

[Vince]

Blue and MEP are going up today as well. This may be a start to a mini-trend.

I am enjoying these higher blue rates. My banker friends all tell me the USD is heading higher and higher. Inflation is going down so this feels nice.

 

[Soytoy]

I am enjoying these higher blue rates. My banker friends all tell me the USD is heading higher and higher. Inflation is going down so this feels nice.

1,500 to 1 by August 31.

 

[Tim Joe]

It is nice to see the blue dollar finally go up. This is what I was waiting for. And prices at the grocery store are finally starting to go down. This is a big win/win. I hope the rate keeps going up. Milei cutting the interest rate definitely is helping the blue rate. It is moving fairly quickly and hope it gains momentum. Makes it much more affordable here with dollars.

 

[Spend Thrift]

Up up up. We will blow past the all-time high blue $ soon at this rate.

Parallel dollar exchange rates increase by up to 10% in two days - Buenos Aires Herald

The blue dollar rate is only 20 pesos away from its all-time high following relative calm

buenosairesherald.com

 

[Vince]

Woo hoo. The blue dollar just hit 1,280 to $1 USD!

 

[Faith]

1,500 to 1 by August 31.

At this rate it is going up maybe we will see 1,500 much sooner than August! Today it hit a new record and rate seems to be going up fast.

https://twitter.com/x/status/1793322499867832456

 

[Utopos]

Blue dollar up up up.

Milei gets ready for rock concert as blue dollar gets back on a surging path

The blue version (a euphemism for black market) of the US dollar against the Argentine peso was still going up Wednesday as President Javier Milei was planning to make his first appearance as the leader of a rock band at Buenos Aires' iconic Luna Park stadium. According to local media, one US...

en.mercopress.com

 

[GlasgowJohn]

The blue USD closed at 1275 yesterday

A friend from Florida asked me to predict where it would be at the end of June.

I replied, Let me send you this weekend's lottery Numbers as that is much easier....

 

[Vince]

The blue USD closed at 1275 yesterday

A friend from Florida asked me to predict where it would be at the end of June.

I replied, Let me send you this weekend's lottery Numbers as that is much easier....

Up another 2% today! Hit 1,300 today. I think by end of June we will be at 1,500 at least. But as you said @GlasgowJohn it is anyone's guess.

 

[Flamingo]

Up another 2% today! Hit 1,300 today. I think by end of June we will be at 1,500 at least. But as you said @GlasgowJohn it is anyone's guess.

Seems to be momentum now. When this happens, everyone moves their spare cash and each paycheck buying dollars. For a while it slowed down but most people realize saving pesos in Argentina is not wise. Everyone I seem to talk to says it will go to 1,500 soon. So pyscholoigcally everyone will push it there probably quickly.

 

[Gus UK]

The blue USD closed at 1275 yesterday

A friend from Florida asked me to predict where it would be at the end of June.

I replied, Let me send you this weekend's lottery Numbers as that is much easier....

Seems like it is going so quickly now. Is it just the lowering of interest rates? That doesn't seem like it could be right? Where so many people really depositing their pesos into high interest bearing accounts? I thought locals always saved in USD? Can this explanation really be true? If interest rates are really 289% even if you're getting paid a high interest rate you are losing money just keeping it in the savings account. Something doesn't make sense.

I can't believe so many people were in fixed term deposits? @GlasgowJohn do you keep your savings in fixed term deposits? Seems like a losing proposition.

Parallel dollar exchange rates increase by up to 10% in two days - Buenos Aires Herald

The blue dollar rate is only 20 pesos away from its all-time high following relative calm

buenosairesherald.com

 

[Finance Prof]

Seems like it is going so quickly now. Is it just the lowering of interest rates? That doesn't seem like it could be right? Where so many people really depositing their pesos into high interest bearing accounts? I thought locals always saved in USD? Can this explanation really be true? If interest rates are really 289% even if you're getting paid a high interest rate you are losing money just keeping it in the savings account. Something doesn't make sense.

I can't believe so many people were in fixed term deposits? @GlasgowJohn do you keep your savings in fixed term deposits? Seems like a losing proposition.

Parallel dollar exchange rates increase by up to 10% in two days - Buenos Aires Herald

The blue dollar rate is only 20 pesos away from its all-time high following relative calm

buenosairesherald.com

These peso is overvalued. No doubt about it. For a while and probably still people were selling their dollars to pay bills. I don't have friends that are in fixed term deposit accounts. All my local friends have always taken any peso income and immediately purchased dollars. For the past few months it has gotten strange and they didn't know what would happen and the USD was losing value. But now they are all rushing to buy USD again.

Many also believe that all of these banks offering mortgages is causing more pressure on the exchange rate true. The government is trying to do a crawling peg but I don't know if they can control it. Now everyone is going back to buying USD again. People coming to their senses. Argentina still has a ton of problems and likely to get worse as the year goes on.

 

[Flamingo]

My banker friend told me that much of this has to do with agriculture and harvests. Many farmers have yet to sell their harvests because the white official dollar rate is artificially low and overvalued. As the official rate goes up they make more money. I think what might happen is the government might just have to give them some special rate for the agriculture segment.

 

[tyler33]

The “blue” dollar reached $1,300 for sale, in its fifth consecutive day on the rise. Analysts believe that monetary circulation and the liquidation of exports will define the trend for the banknote.

Economy - Record free dollar: how far the rise of the currency can continue - Infobae

Record free dollar: how far the rise of the currency can continue - Infobae Source: https://www.infobae.com/economia/2024/05/23/dolar-libre-record-hasta-donde-puede-continuar-la-suba-de-la-divisa/ May 23, 2024 The “blue” dollar reached $1,300 for sale, in its fifth consecutive day on the...

www.expatsba.com

 

[Betsy Ross]

No one really knows if the trend will continue. Lots of factors at play including IMF's big disbursement.

 

[Spend Thrift]

No one really knows if the trend will continue. Lots of factors at play including IMF's big disbursement.

Looks like you called it Betsy Ross. Noticed today dropped 4.69%. Very volatile.

Dólar hoy, cotización del dólar, precio del dólar, dólar blue, precio histórico del dólar, valor del UVA | Dolarito.ar

Seguí la cotización del dólar minuto a minuto, compara cotizaciones, visualiza los valores históricos, conocé el precio del dólar, evolución del valor UVA

www.dolarito.ar

 

[Flamingo]

Blue dollar is bouncing all over the place lately. Good article on the action.

Dollar-peso turbulence heats up in Argentina, analysts call for calm

The 'blue' dollar is heating up aid turbulence in the currency markets.

www.batimes.com.ar

 

[Finance Prof]

This is a great article on the Blue Dollar.

El dólar blue y los financieros le ganaron a todo: cómo quedaron los números respecto al plazo fijo en mayo | TN

Las opciones paralelas de la divisa estadounidense subieron en el último mes y derrumbaron la estrategia de carry trade que dio fuertes ganancias en los primeros meses de gestión de Javier Milei.

tn.com.ar