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Parallel Rate Briefly Weakens Past 1000 Per USD

ARGENTINA
  • Argentina’s Blue Chip Swap Weakens Past 1000 Pesos Per US Dollar (BBG)
  • Wires picking up that Argentina's blue chip swap (a parallel exchange rate) has now risen above 1000, narrowing the gap with the October highs and widening the spread with the official USDARS exchange rate.
  • As a reminder, the blue-chip swap index, derived from securities purchased locally and sold abroad, is an approximation based on data compiled by Bloomberg and not intended for use as a financial benchmark.

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