January 27, 2023

Lakeview Gazette

Complete News World

The use of foreign dollar cards for tourists has increased by 85%

So far this year the informal exchange rate has increased by $8 to $32. Meanwhile, the MEP dollar stood at $341.89. As always, the factors revealed by researchers are many and varied, but they vary according to the library consulted. They address some of the specific measures taken by the government to encourage supply in the informal market, from correcting past inflation to attempts at destabilization.

One particular fact is that in November the administrator announced a different exchange rate for purchases on foreign-issued credit cards. Instead of giving tourists the official price of around $180, they are given a value for every dollar raised from the stock market’s operations. About $350. The move went into effect in December, with major operators able to adjust their processes to reflect the progress.

Once this starts happening From cash to plastic goods, tourists have been migrating in droves. According to data from one of the leading companies in the sector, the amount transferred through foreign cards increased by 85% year-on-year in dollars last month. In terms of number of transactions, the improvement is 79%. As they noted, the rebound continued in the first few days of the month.

According to the government, tourists from neighboring countries such as Brazil, Chile and Uruguay, who are aware of the dynamics of exchange rates, are heavy users of the caves and now transfer their spending to credit cards.

At the same time, the offer in the informal market of foreign tourists visiting the country decreases, and the demand of Argentines traveling abroad increases. Despite the cumulative rise since the end of December 2023, the blue dollar is still below the Qatari dollar, albeit with the last jump, only around 49 cents. Will this be the ceiling for informal currency?

See also  The US is evaluating a package of sanctions against China that would prevent Xi Jinping from invading Taiwan.