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Argentina has different prices for the US dollar and even different prices for BTC. But if we compared the price of the first cryptocurrency with all the prices of the dollar, would the Bitcoin dollar be the most expensive in Argentina?
First, the dollar / bitcoin index in Argentina is a natural response to government imposed restrictions on selling / buying the US dollar. This is the main accommodation for many Argentinians who don’t want their savings to be reduced over time.
And they don’t want their savings to be cut for endless reasons. The first is that Argentina unfortunately has the second worst inflation in Latin America. Inflation could exceed 50% by the end of this year.
Another reason is the fact that the exchange rate between the Argentine dollar and the peso is constantly increasing. In this content, we will focus on this reason today.
The price of various exchange rates in Argentina
For those who are not aware of the unfortunate situation of the Argentines. There are different exchange rates (dollar price) throughout Argentina.
- Official dollar: 68 pesos.
- Tourist dollar: 88.40 pesos.
- Wholesale dollars: 65.86 pesos.
- Billing Dollar (CCL): 102.60 pesos.
- MEP dollar: 99.80 pesos.
- Blue dollar: 105 pesos.
- Dollar / Bitcoin: ?
This is a consequence of the massive outflow of capital in the country of good football in the middle of last year. This forced the on-duty president to restore the iron controls on people’s access to foreign currencies.
Which has caused the dollar’s price to rise further in Argentina, also because it has become a very scarce commodity.
Who has access to any dollar price?
Natural persons and companies have access to official dollar. For one, ordinary people can only access $ 200 a month. While companies can only pay their debts and imports abroad.
In addition, an additional 30% tax is levied on the purchase of this type of dollar if the purchase is made with a card from a foreign bank or for their hoarding. The value of the dollar thus rises to 88.4, the same price as that of the tourist.
The Tourist dollarThey are intended for foreigners who want to exchange their currencies in cash for Argentine pesos or who use their international cards.
On the other hand, the Wholesale dollars It is the one that is used for foreign trade, payment of dollar debt and dividends. In short, it is only accessible to banks.
The Dollar CCL It is a legal operation to take dollars abroad. It has become the preferred way for companies to skip the maximum monthly fees.
We also have them Dollar MEP (the abbreviation for “Electronic Payment Market”), also known as “Stock Market Dollar”. It is obtained by buying a bond that is listed in pesos but is convertible to the same bond that is listed in dollars.
We almost have that Blue dollaror illegal dollar. It is a human law that whenever a market is regulated, a black market is formed at a much higher price than before the regulation. And that’s exactly what happened with this kind of change.
We finally have the Bitcoin dollar. What’s your value this week
Is the Bitcoin Dollar the Most Expensive in Argentina?
Will the Bitcoin dollar be the most expensive in Argentina? We will answer this question.
In response to everything we’ve mentioned above, Argentinians are increasingly turning to cryptocurrencies and crypto verse.
The price of Bitcoin (BTC) on two of the most important Argentinian crypto exchanges is 757,553.93 Pesos for buying in Ripio and 736,906.75 Pesos to SatoshiTango. This means that the price of each BTC token in Argentina at the official exchange rate is $ 11,140 and about $ 10,836.
If we take the international price for each Bitcoin, for example in Binance, we also have that $ 7,200 is the price for each BTC.
If we form a division, we have the impression that the Bitcoin dollar is currently at 105.2 and 102.3 pesos.
With that value, we can then make a list to determine which price of the dollar is higher.
- Blue dollar: 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 dollars: 65.86 pesos.
As we can 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 great option to escape the Argentine government’s regulations and control over foreign currency access.
Are you Argentinian and have you used Bitcoin (BTC) to escape the crisis in your country thanks to the Bitcoin dollar?
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