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3h ago

Argentina’s August FX Report Shows $3.19 Billion Private Outflow as Retail Dollar Buying Cools

Central bank data show record retail participation alongside a sharp drop in net household dollarization.

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Las pizarras de las casas de cambio volvieron a llamar la atención
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Overview

  • BCRA reported a net foreign-exchange outflow of $3.188 billion for the private sector in August.
  • Retail participation reached 1.5 million dollar buyers, the highest since August 2020, and 840,000 people sold dollars, up nearly 46% from July.
  • Net purchases by households fell 39.1% from July to $3.45 billion, with $2.422 billion in cash bought and $562 million sold at counters.
  • The nonfinancial private sector increased net dollar buying to $787 million as the services account showed an $840 million deficit, including $690 million linked to travel and card spending.
  • Gross reserves closed August at $39.986 billion, boosted by a $2.073 billion IMF disbursement and partly offset by $839 million in IMF charges, $207 million in Treasury FX sales, $186 million in bank FX deposit withdrawals, and $59 million via the SML.