Blue dollar in Argentina: Check here the exchange rate price for today, Tuesday, May 10

On his last day, the official dollar it is located at $112.75 for the purchase and $188.75 for the sale, according to what the Central Bank reports in the various financial entities. In Argentina, throughout 2022 there are planned payments to the IMF for some 19,000 million dollars, in 2023 for another 20,000 million and in 2024 some 4,000 million more.

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QUOTE OF THE BLUE DOLLAR THIS MAY 10

The Dolar blue quote today, Tuesday, May 10, at $198.50 to buy and $201.50 to sell.

doWHAT IS THE BLUE DOLLAR?

‘Blue dollar’ is the term given to the dollar that circulates on the black market and usually has a higher value than the official one. Some explain its name because in English, ‘blue’, in addition to meaning blue, refers to what is “dark”.

Another explanation for the meaning of ‘blue dollar’ relates it to the purchase via bonds or shares of companies known as ‘blue chips’. This denomination is also referenced with the similar color that is noticed when a fibron is applied to recognize counterfeit bills.

The “blue dollar” was trading at 187.5 pesos in Argentina this Wednesday. (Photo: AFP) / HERIKA MARTINEZ

HOW THE BLUE DOLLAR ORIGINATED

Since 2011, in Argentina the term blue dollar begins to be used. This occurred as a response to the restrictions for the acquisition of foreign currency that began to be applied by the AFIP and the Central Bank of the Argentine Republic, which was under the command of the President, Cristina Fernández de Kirchner.

THE ECONOMIC SITUATION IN ARGENTINA FOR THIS 2022

The government seeks to reach an agreement for extended facilities that lengthens payment terms and replaces the current stand-by program.

With restricted access to international credit markets and no greater availability of international reserves, the Central Bank has limited its interventions in the foreign exchange market in recent weeks.

In Argentina, an exchange control has been in force since 2019 that has been tightening until it limits the amount that individuals can acquire in the official market to 200 dollars per month.

Markets have been impacted since Sunday's primary election.  (Photo: Reuters)
Markets have been impacted since Sunday’s primary election. (Photo: Reuters)

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