The blue dollar reached 1560 pesos, gap with the official rate at 4.2%

The blue dollar closed at 1540 pesos for buying and 1560 pesos for selling, advancing almost 1% this Monday, July 27, and adding 15 pesos compared to Friday. The official wholesale dollar remained unchanged at 1497 pesos for selling, which raised the gap between both quotes to 4.2%, up from the previous 3.2%. Meanwhile, other exchange rates, including financial ones, showed little variation. The informal market was affected by an adverse external context, with the rise in oil prices, the reimposition of tariffs by the United States, and tensions in the Middle East strengthening the global dollar, whose DXY index rose 0.7% over the week, putting pressure on emerging currencies. Additionally, fears of restrictions in the Strait of Hormuz revived inflationary expectations and increased demand for the US dollar as a safe-haven asset. Locally, the last week of the month could also generate upward pressure due to seasonal factors, such as company salary payments, and the closing of future dollar positions by the BCRA, which usually raises the demand for hedging.

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