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The price of the dollar in the parallel market of Argentina continued on Tuesday to rise for several days until reaching 497 pesos per greenback, 35 pesos more than on Monday, a reflection of high inflation according to economists, and of “rumors and false reports”. , According to the government.
By Juan Buchet, RFI correspondent in Buenos Aires
Five hundred pesos for one dollar! Although it later closed at 497 pesos, the price reached this Tuesday by the US currency in the so-called caves, the informal exchange agencies in downtown Buenos Aires, marked a milestone.
The fall of the Argentine peso against the greenback in the parallel market, which has accelerated in recent days, seems to have no floor. The first reason for this currency run is growing inflation: the rise in prices exceeds 7% per month and reaches an annual rate of more than 104%.
Second factor, the difficulties of the Argentine government to face the financial crisis, despite the incessant search for external credits. And third element: political uncertainty.
A few days ago, it was rumored that the Minister of Economy, Sergio Massa, the best asset of the ruling party, was going to resign. The denial and the announcement of the non-candidate for the October elections of the current president Alberto Fernández, did not change the polls, which continue to show the Peronist ruler the loser in the next elections. But they do not guarantee a victory for the center-right coalition Together for Change. Because there is a third party in contention, Javier Milei, a libertarian economist, for many from the extreme right, increasingly popular, who promises to dollarize the economy if he comes to power.
