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Argentina Anchors Official Peso Rate at Band Ceiling as Blue Dollar Tops 1,300

Futures interventions are deployed to protect reserves as the parallel dollar’s climb reflects mounting market pressure

Archivo - Señal de la Bolsa de Madrid frente a la fachada del edificio, en Madrid (España)
Image
Dólar vs Peso mexicano. | Crédito: REUTERS/Canva
La cotización del dólar al instante en la cobertura minuto a minuto de Clarín.

Overview

  • The official dollar rate at Banco Nación is fixed at ARS 1,275 for sale and ARS 1,225 for purchase, with the wholesale rate at ARS 1,256.50.
  • The parallel ‘dólar blue’ trades at ARS 1,310 for sale and ARS 1,290 for purchase, marking four sessions above the ARS 1,300 threshold and widening the blue-official spread to about 4.3%.
  • The Central Bank has stepped up interventions in the futures market to contain exchange-rate pressures and anchor the peso at the band ceiling.
  • Financial instruments price in further depreciation, with the MEP dollar at around ARS 1,263 and the CCL at around ARS 1,267, both down slightly on the day.
  • Despite Treasury block purchases of about US$ 968 million over the past month, BCRA reserves dipped by US$ 74 million to US$ 40.576 billion in the latest session.