Last Monday, the dollar had reached $1.233, which means the currency fell $1.23 in just one week
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In a trend that had been anticipated by the Government of Javier Milei, the official dollar, now without exchange controls, continues its remarkable decline and this Monday reached a value practically identical to what it was before the removal of the controls.
Past noon, the quotation at Banco Nación marked $1,110 for sale, just 3 pesos above the $1,108 recorded before the new exchange measures.
This Monday's decline represents the second consecutive drop in the official exchange rate, in a previous week that had already shown signs of a strong setback. Last Monday, the dollar had peaked at $1,233, which means that in just one week the currency decreased by $123.
Javier Milei, presidente de Argentina.
The data was celebrated by the Minister of Economy, Luis "Toto" Caputo, who used his account on the social network X to highlight the market's behavior. "Dollar at 1065 at this moment, below the official dollar, prior to the removal of the controls. One would expect a flood of colleagues and journalists apologizing for telling people that we had devalued, but it surely won't happen," he quipped. He added: "Once again, we did what we said we were going to do, and what we said was going to happen happened."
According to data published by the Central Bank, on April 11, the last day of operations with controls, the official dollar for purchase closed at $1,107.9, which implies just 2.1 pesos difference with the current quotation.
Javier Milei, presidente de Argentina.
The blue dollar also drops
The dollar's decline was not limited to the official market. In the informal segment, the blue dollar also showed a significant drop. This Monday it was trading at $1,130 for purchase and $1,160 for sale. Last week, the parallel bill had already retreated about $120, and now adds an additional drop of $90.
Meanwhile, in the wholesale market, the dollar was quoted at $1,073, which represents a drop of $65 (5.5%) compared to the previous Wednesday's close. These movements confirm an appreciation of the peso in the different exchange segments, in a context of greater stability and confidence in President Javier Milei's economic plan.
