The value of the Argentine peso in relation to the US dollar depreciated once again, surpassing the AR $16 mark yesterday. The peso hit AR $16.14 to the dollar yesterday, according to the Central Bank (BCRA). As for those who want to sell their dollars, banks are offering AR $15.77.

The reason for the steep change is thought to be linked to the higher amount of dollar purchases many businesses and people make at the end of the year in the face of the almost standard increase in expenses.

The fact is that the large amount of dollars that entered State coffers as a result of the latest tax amnesty law has began to decrease, resulting in a lesser offer of currency, also contributed.

With this number, the dollar again broke the AR $16 threshold, but didn’t reach 2016’s record, when on December 12th it clocked in at AR $16.28. The now reduced — and illegal — “blue” dollar market saw an more expensive dollar, at AR $16.95.