MIAMI.- For the second consecutive day the Forex market remained very calm with very light movements and stability in Europe, the United Kingdom and Japan. While, in the countries of the region, the difference of only 2.3 dollars between the official and parallel rates in Venezuela stands out.
In the old continent, the price remained at 1.08 euros per dollar. The European currency is one of the strongest in the Forex market, where it is preserved as a refuge for investors.
In the British market, the American currency remains clinging to the levels of 1.26 pounds sterling. The English currency continues “in its kingdom”, occupying a preferential place in the exchange market. This exchange rate was not affected as expected after the United Kingdom left the euro zone in January 2020.
In Japan, it had a slight decline, going from 151.38 yen to 151.31 yen according to the latest price on Monday. The Japanese currency, along with the dollar, the euro and the pound sterling, is one of the most robust in the foreign exchange market, despite having lost value against the American currency at the beginning of the year.
Quote in Cuba
In Mexico, the dollar decreased its value by 0.1% compared to the last closing to value 16.67 pesos Mexicans in the Official Gazette of the Federation (DOF). In the Aztec nation, the Central Bank establishes the price guideline and this moves during the day in the buying and selling of the banks and serves as the exchange reference for the following day.
In Argentina, the official exchange rate, established by the Central Bank, made a small advance to stand this Monday, March 25, at 900.45 Argentine pesos per dollar. The official price reduced the gap of more than 100% that it maintained with the parallel structure, after the drastic increase implemented by President Javier Milei in order to stabilize the economy. In the parallel market, the so-called Blue dollar, which during the last administration set the tone in the economy, now has an advantage of 12.7%. This rate was placed on Tuesday, March 26, at 1,015 Argentine pesos. The market expects exchange decisions after this sustained and progressive decrease in the gap between both prices. Economic agents are convinced that there is a “unification” strategy between the parallel and the official rate, or at least that they are very close.
In Havana, the currency remains anchored at 24 Cuban pesos since March 2005 in the official rate, set by the Central Bank of Cuba. In the so-called parallel or black market, whose value is 13 times higher, it stood at 330 Cuban pesos.
Price of the dollar in Venezuela
In Venezuela, the official rate, established by the Central Bank, closed with a subtle decline to 36.30 bolivars. While in the parallel structure, there was a slight advance of 0.2% to close this Monday at 38.60 bolivars, a difference of only 2.3 dollars, registering relative stability for several days.
In Colombia, the American currency remained at the levels of 3,901.51 pesos Colombians at the rate set by the Bank of the Republic. In the coffee-growing nation, annual inflation as of February was 7.74%, according to figures from the National Administrative Department of Statistics (DANE).
Source: With information from the Central Bank of the different countries and parallel structures
