Excerpt… "The “blue” (a euphemism for “black market”) dollar reached a new all-time-high Wednesday in Argentina and closed at AR$ 780 after hitting AR$ 800 at some point during the day, it was reported in Buenos Aires. On Tuesday it traded at AR$ 730 after Monday’s 22% devaluation which drove it from AR$ 600 on Friday. It traded at AR$346 at the end of 2022.

Following more police raids in several undeclared exchange parlors in the Argentine capital, the gap with the official rate reached 122.9%, after touching 127.1% during the day, the highest since the July 2022 run (139.3%).

There seems to be no ceiling for the unofficial quotation, which is the only one available to ordinary citizens who do not engage in stock exchange operations and which is also a reference for both wholesalers and retailers to determine the price of an article. In this scenario, shortages gripped businesses amid an interruption in the supply chain triggered by Sunday’s results in the Open, Mandatory, and Simultaneous Primary (PASO) elections."