Argentina's Parallel Exchange Rates Outpace Official Quotes in Jan. 19 Readings

Overview

• On Jan. 19, Banco Nación listed the official U.S. dollar at $1,405 for buying and $1,455 for selling, with the BCRA average sale at $1,461.94 and the wholesale rate at $1,430.
• Ámbito’s survey of Buenos Aires “cuevas” showed the U.S. dollar blue at about $1,485 to buy and $1,505 to sell.
• On Jan. 18, Clarín reported the euro at $1,684.29 (buy) and $1,688.03 (sell) officially, versus euro blue at $1,725.12 and $1,748.36.
• Clarín also showed the Brazilian real at $239.64 (buy) and $239.87 (sell) officially, versus real blue at $276.75 and $287.75, a gap of roughly 13.4%.
• Additional benchmarks on Jan. 19 placed the CCL at $1,519.73, the MEP at $1,472.15, the tourist dollar at $1,891.50, and the crypto dollar near $1,522.54.