In Argentina there are different prices for the US dollar, and even different prices for BTC. But, if we did the exercise of comparing the price of the first cryptocurrency, with all the prices of the dollar, would the Bitcoin Dollar be the most expensive in Argentina?
In the first place, the Dollar / Bitcoin index emerges in Argentina as a natural response to the restrictions imposed by the governments on duty for the sale / purchase of the US dollar. Which is the main refuge for many Argentines who do not want to see their savings reduced over time.
And they do not want to see their savings reduced for endless reasons. The first is that, unfortunately, Argentina suffers the second worst inflation in Latin America. Its inflation could exceed 50% at the end of this year.
Another reason is the fact of the constant increases in the Argentine Dollar / Peso exchange rate. Today, in this content we will focus on this reason.
The price of the different exchange rates in Argentina
For those who are not aware of the unfortunate situation that Argentines are experiencing. There are different exchange rates (price of the dollar) throughout the Argentine territory.
- Official dollar: 68 pesos.
- Tourist Dollar: 88.40 pesos.
- Wholesale dollar: 65.86 pesos.
- Dollar with settlement (CCL): 102.60 pesos.
- MEP dollar: 99.80 pesos.
- Dolar blue: 105 pesos.
- Dollar / Bitcoin: ?
This as a consequence of the massive capital outflow experienced by the country of good football in the middle of last year. This forced the president on duty to restore the iron controls on access to foreign currency by the population.
What has generated that the price of the dollar in Argentina has increased even more, partly because it has become a very scarce good.
Who has access to each price of the dollar?
Natural persons and companies have access to official dollar. For one thing, ordinary people can only access $ 200 a month. While companies can only pay their debts and imports abroad.
In addition, for the purchase of this type of dollar an additional tax of 30% will be charged if the purchase is made with a card from a foreign bank, or for its hoarding. So the value of the dollar rises to 88.4, the same price as the tourist.
The tourist dollarThey are for those foreigners who wish to exchange their currencies in cash for Argentine pesos, or who use their international cards.
On the other hand, the wholesale dollar It is the one used for foreign trade, the payment of dollarized debts and dividends. In short, it is only accessible by banks.
The dollar CCL It is a legal type of operation to get dollars abroad. It became the preferred path for companies to skip the maximum monthly fees.
Also, we have the dollar MEP (the acronym for “electronic payments market”), also known as “stock market dollars”. It is obtained through the purchase of a bond that is quoted in pesos, but which is convertible to the same bond that is quoted in dollars.
Almost to close we have the Dolar blue, or illegal dollar. It is a human law that whenever a market is regulated, a black market will be formed, with a much higher price than before regulation. And this is what has happened with this type of change.
Finally we have the Bitcoin Dollar. What is your value this week?
Is the Bitcoin Dollar the most expensive in Argentina?
Will the Bitcoin Dollar be the most expensive in Argentina? It is the question that we will answer.
In response to everything we mentioned above, Argentines are increasingly turning towards cryptocurrencies and cryptoverse.
The price of Bitcoin (BTC) in two of the main Argentine crypto exchanges is 757,553.93 pesos for the purchase in Ripio and 736,906.75 pesos in SatoshiTango. Which means that the price of each BTC token in Argentina is around $ 11,140 and approximately $ 10,836, at the official exchange rate.
Furthermore, taking the international price of each Bitcoin, for example in Binance, we have that $ 7,200 is the price of each BTC.
Making a division we have that the Bitcoin Dollar is currently hovering around 105.2 and 102.3 pesos respectively.
With this value we can then make a list to determine which price of the dollar is higher.
- Dolar blue: 105 pesos.
- CCL Dollar: 102.6 pesos.
- Bitcoin dollar: 102.3 pesos.
- MEP dollar: 99.8 pesos.
- Tourist dollar: 88.4 pesos.
- Official dollar: 68 pesos.
- Wholesale Dollar: 65.86 pesos.
As we see, the Bitcoin Dollar is not the most expensive in Argentina, it depends on the crypto exchange where we get the value of the exchange rate.
Without a doubt, Bitcoin is a good option to escape the regulations and control of the Argentine government for access to foreign currencies.
Are you Argentine and have you used Bitcoin (BTC), thanks to the Bitcoin Dollar to escape the crisis in your country?
