Argentina’s parallel foreign exchange market, known as the “dólar blue,” continues to operate with minimal volatility, trading at approximately $1464,70 for purchase and $1510 for sale as of late June 2024. This informal rate maintains a narrow spread of roughly 1 percent against the official exchange rate set by the Banco de la Nación Argentina, which currently quotes the U.S. dollar at $1445 for buyers and $1495 for sellers.
Current Market Status and Exchange Rates
The exchange rate environment in Argentina remains characterized by relative stability in the parallel market. According to data tracked over the final week of June, the blue dollar has seen fluctuations of less than 1 percent. This stability contrasts with earlier periods of the year when the parallel currency saw more pronounced movement. The current market price of $1510 for the sale of the dollar represents a period of consolidation for the informal market.
Institutional exchange rates, specifically those managed through financial assets, show similar trends. The “Contado con Liquidación” (CCL), a mechanism used to exchange pesos for dollars through the purchase and sale of stocks or bonds, is trading at a market-determined rate. Meanwhile, the MEP dollar—or “Bolsa” dollar—which is acquired through the purchase of the AL30 bond in pesos and its subsequent sale in U.S. currency, is trading at a market-determined rate. Both rates have maintained a volatility margin of less than 1 percent during the most recent business cycle.
Understanding the Dólar Tarjeta
For consumers making purchases in foreign currency, the “dólar tarjeta” serves as the primary reference rate. As of June 29, 2024, this rate is set at $1943,50. This figure is derived from the official exchange rate plus the application of specific tax withholdings and perceptions mandated by the Argentine government.
The dólar tarjeta applies to:
- Credit and debit card transactions conducted outside of Argentina.
- Purchases of international airline tickets and travel packages in foreign currency.
- Services billed in foreign currency, unless the consumer opts to settle the debt using previously held U.S. dollar balances.
Market Comparison: Official vs. Parallel
The relationship between the official exchange rate and the parallel market acts as a primary indicator of market sentiment and liquidity. The following table summarizes the exchange rates as of the most recent reporting period:
| Type | Selling Price (ARS) |
|---|---|
| Dólar Oficial (Banco Nación) | $1495 |
| Dólar Blue | $1510 |
| Dólar MEP (Bolsa) | market-determined |
| Dólar CCL | market-determined |
| Dólar Tarjeta | $1943,50 |
Frequently Asked Questions
What determines the price of the MEP dollar?
The MEP dollar price is determined primarily by the market value of the AL30 bond. Investors purchase this asset in pesos and sell it in dollars, allowing for the acquisition of foreign currency through the local capital market.
Why is there a difference between the official rate and the blue dollar?
The official rate is strictly regulated by the Banco de la Nación Argentina. The blue dollar, by contrast, functions in an informal, parallel market where prices are set by supply and demand dynamics outside of traditional banking channels.
How is the dólar tarjeta calculated?
The dólar tarjeta is calculated by taking the official Banco Nación selling rate and adding the relevant tax surcharges and advance payments required by the Federal Administration of Public Revenue (AFIP).
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