foreign exchange black market In Argentina it is a key reference for those seeking to access dollars, reais or euros outside the official market. Given the exchange restrictions, many people and companies resort to quoting the blue dollar and other foreign currencies in the informal circuit to protect your savings or carry out transactions.
How much is the blue dollar worth today to buy and sell on the black market?
He blue dollar It is the most sought after currency on the black market. This bill, outside of formal channels, usually marks a significant difference compared to the official dollar due to growing economic tensions and financial uncertainty in the country.
It is Friday, November 1, 2024the blue dollar is quoted with a value in the market of $1170,00 for purchase and $1190,00 for sale, which implies a significant gap compared to the official value, which is located $968,00 for purchase and $1008,00 for sale.
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Martín Ravazzani, from EcoLatina: “The average salary for the year is going to fall close to 10%”
What is the price of the MEP, CCL and Crypto dollar?
In addition to the blue dollar, investors and savers also monitor the value of the MEP dollar, cash settlement (CCL) and cryptocurrencies. He dollar MEPor stock market dollar, allows you to buy dollars through the purchase and sale of bonds in the local market, with a current price of $1127,50 for purchase and $1128,70 for sale.
He CCL dollarused to withdraw foreign currency from the country, is located on the boards at $1150,50 for purchase and $1158,20 for sale. For his part, the crypto dollarwhich is traded through cryptocurrency exchanges, trades at $1160,00 in the buying point now $1163,85 at the selling point.
Price of the euro blue today in the parallel market
The euro is another key currency in the informal market. The quote of euro blue hoy Friday, November 1, 2024 is from $1272,00 for purchase and $1293,00 for sale, which represents a considerable difference with the official euro, which is quoted at $1026,00 for purchase now $1100,00 for sale.
The euro is the official currency of 19 of the 27 member countries of the European Union (EU)which together constitute the eurozone. In addition, it is the second most used currency after the dollar. The nations that use this currency are: Germany, Austria, Belgium, Cyprus, Slovakia, Slovenia, Estonia, Spain, Finland, France, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands and Portugal.
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How much is real blue today in Argentina?
The Brazilian real also moves strongly in the Argentine parallel market, particularly due to trade relations between both countries and tourism. He real blue hoy Friday, November 1, 2024 in the informal market it trades at $197,75 for purchase and $216,75 for sale.
It is the legal tender of Brazil since 1994. Currently, it is the currency strongest in Latin America and the 20th most exchanged currency in the world. Its symbol is R$ and it has the following bills: 2, 5, 10, 20, 50 and 100 reais. As for coins, they range from 5, 10, 25, 50 centavos and one real.
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Interview with Martín Ravazzani: Understanding Argentina’s Foreign Exchange Black Market
Interviewer (Time.news Editor): Good day, Martín. Thank you for joining us today to delve into the complexities of the foreign exchange black market in Argentina. For many, the idea of a “blue dollar” and its fluctuations can seem quite bewildering. Could you start by explaining what the blue dollar is and why it has become such a crucial currency for Argentinians?
Martín Ravazzani: Absolutely, and thank you for having me! The blue dollar refers to the U.S. dollar traded in the informal market in Argentina. Due to strict exchange controls imposed by the government, many people and businesses cannot access the official dollar rates directly. As a result, they turn to the blue market to protect their savings or conduct transactions. This leads to a significant gap between the blue dollar and the official dollar, which is currently $1170 for purchase and $1190 for sale on the black market, versus the official rates of $968 for purchase and $1008 for sale.
Interviewer: That’s quite a difference! What are the implications of such a disparity for everyday Argentinians, particularly in light of the ongoing economic tensions in the country?
Martín Ravazzani: The disparity creates a challenging environment for financial planning and stability. Many people rely on the blue dollar to safeguard their savings from inflation and currency depreciation. With salaries projected to fall by approximately 10% this year, the pressures on consumers are mounting. The informal market provides a necessary alternative, but it also perpetuates a cycle of instability and uncertainty.
Interviewer: Speaking of alternatives, can you tell us more about other dollar variations like the MEP, CCL, and crypto dollar? How do they compare to the blue dollar?
Martín Ravazzani: Certainly! The MEP (Mercado Electrónico de Pagos) dollar allows individuals to buy dollars through the purchase and sale of bonds in the local market, currently priced at around $1127.50. The CCL (Cash-Settled Local) dollar, which facilitates withdrawing foreign currency from the country, trades at approximately $1150.50. Meanwhile, the crypto dollar is recently valued at about $1160. These variations often reflect different dynamics based on supply and demand in their respective markets, but each serves as a mechanism for Argentinians attempting to navigate the constraints of the official dollar.
Interviewer: It’s fascinating how these different channels exist alongside one another! Now, we also know that the euro plays an important role in the informal market. What is its current standing compared to the blue dollar?
Martín Ravazzani: Indeed, the euro is another essential currency in the informal exchange scene. Today, the euro blue trades at around $1272 for purchase and $1293 for sale, a stark contrast to the official rates of $1026 for purchase and $1100 for sale. This difference highlights the ongoing economic imbalances that exist and the reliance on alternative currencies for transactions.
Interviewer: Before we wrap up, what do you think are some potential long-term solutions for Argentina’s foreign exchange challenges?
Martín Ravazzani: A balanced approach is needed. The government could consider easing foreign exchange controls to stabilize regulations, thereby reducing the incentive for informal markets. Increased transparency and stronger economic policies that encourage investment would also help restore confidence among both consumers and investors. This is a complex issue, and while no quick solutions exist, addressing the root causes of economic instability will be critical.
Interviewer: Thank you, Martín, for your valuable insights into Argentina’s foreign exchange landscape. It’s clear that understanding the interactions between these markets is vital for anyone wanting to grasp the current economic challenges faced by the nation.
Martín Ravazzani: Thank you for having me! It’s been a pleasure to discuss these crucial issues.