The official dollar and blue dollar exchange rates in Argentina were reported for Tuesday, October 24. The blue dollar closed at $1,090 for sale and $1,040 for purchase, while the official dollar was quoted at $348.06 for purchase and $368.06 for sale. The crypto dollar, also known as stablecoin, dropped in value and was trading at $934.23 on the Ripio platform.
The blue dollar in Argentina is quoted at $1,050 for purchase and $1,100 for sale. This represents a 199% gap compared to the official dollar exchange rate, which remains unchanged after recent devaluations caused by the government. The euro is trading at $1,071 on the parallel market.
The Minister of Economy, Sergio Massa, announced the expansion of the Export Promotion Program, which establishes a differential dollar for the export sector. This measure aims to strengthen reserves and ensure stability in financial markets. The Central Bank made the largest foreign currency purchase since the last devaluation, acquiring $195 million in the official exchange market.
The tourist dollar, used for purchases exceeding $300 made with debit and credit cards abroad, is trading at $731. The Merval stock market collapsed, with notable decreases in Ternium, Aluar, Loma Negra, Central Puerto, and Cresud.
The blue dollar closed at $1,100 for sale on Monday, October 23. On the same day, the presidential elections took place in Argentina, leading to a runoff between Javier Milei and Sergio Massa. The crypto dollar remains active during election days and can be accessed through exchange platforms.
To buy the MEP dollar, banking companies have specific schedules for this type of operation. The process involves depositing funds in pesos, buying bonds in pesos, selecting the settlement period, and choosing pesos as the currency. After a waiting period, the bonds can be sold and dollars can be chosen as the currency.