The official dollar and the blue dollar opened this Wednesday with the same value: $1,190
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In an event that marks an economic milestone for Argentina, the official dollar and the blue dollar opened this Wednesday at the same value: $1,190. This phenomenon, which hadn't occurred in years, represents the elimination of the exchange rate gap, one of the most persistent distortions in the national economy.
The official dollar rose ten pesos at the start of the day and reached $1,190 at Banco Nación. Meanwhile, the blue dollar dropped another ten pesos, settling at the same level.
Javier Milei, presidente de Argentina.
This exchange rate equilibrium is a strong signal of the normalization process the market is undergoing after the lifting of the currency controls, a key decision made by the Government of Javier Milei, with the aim of boosting economic growth.
Meanwhile, the MEP dollar is quoted at $1,173.24, while the dollar with settlement is slightly above both, at $1,188.09. Meanwhile, the country risk fell to 726 points, consolidating a climate of greater confidence among investors and financial markets.
Javier Milei y Luis Caputo.
The elimination of the exchange rate gap occurs in a context where the government is betting on consolidating the stabilization of the economy and projecting a sustained decrease in inflation. The latest data from INDEC showed a 3.7% increase in March, but Milei's government is confident that April will close with an even lower figure, with the expectation that monthly inflation will hover around 1% toward the second half of the year and reach 0% by 2026.
This exchange rate convergence is proof that the libertarian administration's structural reforms are working and that the Argentine economy is beginning to follow a path of order and predictability. Despite the negative forecasts from the opposition at the time of lifting the currency controls, the market is responding very positively, giving way to a new stage marked by financial stability.
