Argentine Blue Dollar Climbs to $1,250 Amid Economic Uncertainty

The Argentine blue dollar surged to $1,250, marking its highest value since January 13. This increase coincides with heightened economic uncertainty, as indicated by Argentina's country risk, measured by JP Morgan, rising to 748 basis points. Doubts persist regarding negotiations with the International Monetary Fund (IMF), despite President Javier Milei's decree formalizing the agreement. Concerns about a potentially accelerated exit from capital controls, possibly involving a currency devaluation and a shift from the current 1% monthly crawling peg to a floating exchange rate, have also fueled demand for dollars. The Central Bank intervened by selling US$474 million last Friday. The financial dollars, such as the contado con liqui and the MEP, also increased by 1%, reaching $1,252 and $1,249, respectively.