The Argentinian peso tumbled to another record low on the parallel markets. The exchange rate offered on the black market, known locally as the ‘the dollar blue’, weakened almost 6% to 317 per USD. The blue-chip swap, another parallel exchange rate derived from buying securities locally and selling them abroad, slid 2.5% to 314 pesos per USD. The gap between the official and the blue-chip exchange rate reached 142%, and has hovered above 125% for nine days, the longest period since the country’s economy experienced a period of hyperinflation in 1989-1990. Meanwhile, Argentina recorded a trade deficit of $115mln in June, switching from a $1.1bln surplus in June 2021. Exports rose 20.3%, while imports soared 44.6%.