Tuesday, December 29, 2015

US dollar drops 4 cents to 13.27 pesos

The US dollar today dropped four cents to 12.97 pesos (buying price) and 13.27 pesos (selling price) in Buenos Aires City banks and foreign exchange offices, while the so called “blue” dollar added 11 cents to 14.43 pesos in underground houses. 

Since Mauricio Macri's administration decided to lift restrictions on the purchase of greenbacks, the Central Bank (BCRA) has not intervened in the foreign exchange market with exporters playing a leading role in the offer of the US currency.

More than US$756 million was sold abroad in the short week between December 21 and December 23, the second-best weekly figure in 2015, helping keep the official value of the dollar stable and making foreign currency reserves soar.