Parallel dollar in Argentina has the highest value in more than 30 years

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While the official dollar closed at 189 pesos, the parallel one was at 378 pesos – a difference of 107%. Ariel Palácios comments on the rise of the dollar in Argentina In Argentina, the dollar on the parallel market ended Tuesday (17) at 378 pesos, a record since March 1991. The official quotation of the Alberto Fernandez government closed the day at 189 pesos . That is, the difference between the parallel dollar rate and the government rate is 107%. Inflation is the great villain that causes the high dollar to persist in the country. In 2022, it was 94.8%. Other factors are the economic policies adopted by governments since 1975, in addition to institutional instability. Since the first major economic adjustment in 1975, Argentina has had seven major economic crises. The country was governed by 19 presidents of the Republic, four provisional, one civilian overthrown by the military, two military overthrown in coups by other military and two elected civilians who resigned. There were 38 Ministers of Economy and 32 Presidents of the Central Bank. In this context, the dollar is an indicator of Argentine sentiment about the economy. And for about 50 years it has been common for Argentines to keep their savings in the US currency.

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