At the time of writing this content, Argentina has a new President: Alberto Fernández, who won against Mauricio Macri by 8 points (48 to 40). This prompted the price of Bitcoin in local currency, which anticipates a dollar around 80 pesos. Or well the release of the results, the Central Bank of the Argentine Republic took emergency measures to avoid a run on the dollar, before the opening of the local market at 10:00 AM. The main measure is a restriction on maximum purchase of US$ 200 for savers who have a bank account, and US$ 100 for purchases in cash. No doubt this measure will cause a rise of the dollar blue (parallel market and illegal). It should be noted that until Friday, you could buy$ 10,000. Now, another way to acquire dollars is through Bitcoin, which is what you can buy at the time of writing in 774,500 Ars in the major exchanges local. Quote of Bitcoin in argentine pesos in the local exchange Gravel
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How do I reach the value of $80 to the us dollar?
The calculation is very simple, results from dividing the value of buying a BTC in argentine pesos (774,500, Ars) against the value of Bitcoin in international markets (US$ 9,670). The result sheds is 80,09 Ars. This is not to say that the value of the dollar will be 80 Ars, but rather is an indication of how much an investor is willing to pay by means of Bitcoin to become the green ticket.
Value of the different dollars at the close of Friday
At the close of the markets Friday, the dollar was trading at $65 in the official market, to $75 in the parallel market, and $81 the cash settlement (so that companies have made dollars and turn them to the outside). For its part, the average of the different private banks hovered around 66 pesos.
Projection for the next few days
The uncertainty generated by the new government, coupled with the economic downturn that is lived in these moments, will continue to press the dollar, looking for new highs. The reference values to monitor are 800,000 Ars Bitcoin, added to the value of the parallel dollar, which is likely to exceed 80 pesos at the session of today. We must not lose sight of the cash settlement. To finish, we will have a week of high volatility, where we will surely see new highs of the american currency. Will the $100? The following two tabs change content below. Analyst of financial markets, and passionate about new technologies, especially in the disruptive as the Blockchain.