After the primary elections, Argentina devalued its currency by almost 22%.

The Central Bank yesterday modified the exchange rate, which rose to 365 pesos to the dollar.

For the entity, in recent weeks, "there has been a growth in the profit margins of price formers".

These big economic players, according to the authority, created a kind of preventive "buffer" before last Sunday's elections.

Consequently, "they are in a position to absorb this new exchange rate without it being passed on to prices".

The official exchange rate is mainly used for foreign trade.

In addition, there is an unofficial rate, also known as "free" or "blue", which yesterday climbed to 685 pesos.