Argentina’s parallel dollar, also called ‘blue dollar’, surged to 1,230 pesos per unit, marking a four-month high.It has risen nearly 10% in the first two days of the week. Has increased by 18.3% so far in May. Analysts attribute the dollar’s rise to the Central Bank’s recent cut in the benchmark interest rate. Local media reports suggest the rising parallel dollar will surpass the monthly inflation rate for the first time in months.
May 22, 2024
SOURCE: RIO TIMES
MORE COVERAGE:
https://www.riotimesonline.com/argentinas-economy-improves-but-why-has-the-parallel-dollar-soared