The Argentine peso declined sharply on October 2 after the Central Bank of Argentina introduced a more flexible exchange rate on October 1.

But the spread between the peso’s official exchange rate against the US dollar and the unofficial rate, the so-called dólar blue, widened. While the official peso declined from 76.2 to 76.9 per $1, the unofficial rate fell from 147 to 150 per $1.

On October 1, the Argentine central bank announced it would allow “greater volatility” in its tightly