The blue-chip dollar swap rate peaked at a record AR$408 on Friday, its highest nominal value ever, before closing at AR403.57, up by more than 10 pesos (3%) in the last three days of the week. The blue-chip swap rate, also known as contado con liqui or CCL, is used exclusively in the financial world. It is obtained by investors buying shares and financial instruments in pesos and selling them in dollars on the international market. In this context, the report’s authors predict that the Central Bank will have to tighten capital controls “over the next months”. The Central Bank participates in a committee that makes such analyses but does not make its conclusions public.

Source: Bueno Aires Herald March 18, 2023 22:23 UTC