US dollar ends higher; 'blue' drops

November 5, 2013

Buenos Aires-Argentina (Nov 6)  The US currency ended one cent higher today at 5.96 pesos for buyers. Last week, greenbacks traded five cents higher reaching a 20-percent rise so far this year.

The so called “blue” dollar dropped to 9.79 pesos, six cents lower than yesterday's close and  following the increasing government crackdown on the informal market. Officials have been fighting for a drop in parallel rates which had reached a maximum peak of 10.05 pesos in recent days.

Meanwhile, Buenos Aires stocks were edging higher at 3.6 percent today, reaching 5,411.10 points. Local shares climb 1.3 percent in November and 83 percent this year.


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