The official dollar was sold at $8,02 and the parallel closed at $11,70


Argentina, January 24, 2014

Following announcements done by Kiciloff and Capitanich, the official dollar suffered an increase of 23 cents, while the parallel lower from $12.75 (yesterday’s close) to $ 11.70, almost a peso. The Central Bank, meanwhile, had to sell US$ 160 million to contain the rise. 

The currency raised 23 cents to $ 8.02 for the sale in exchange houses and banks in downtown Buenos Aires, for authorized operations by the AFIP.

In the interbank market, where banks, businesses and currency exchange houses operate, currency was traded at $8.005, gaining 3.3% from the $7.75 that closed on Thursday. Meanwhile, in the informal market the dollar closed at $11.70, almost a peso below yesterday’s close.

The Argentine Central Bank had to sell $ s160 million of its reserves after the announcement of a flexible exchange market from next week to contain the official dollar rise.

This week, the Central Bank lost about $ s400 million within its exchange policy to maintain a managed exchange rate. The wholesale dollar posted a gain of 3.35% and racked up 22.9 % so far in 2014.

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