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Argentina’s Dollar Market Shows Short‑Term Calm as Multiple Rates Stay Far Below Band Ceiling

Minimal central‑bank FX purchases, a 30% card perception and August’s 1.7% inflation point toward an October band reset that leaves room for a gradual peso depreciation.

Overview

  • Official retail dollars at Banco Nación were quoted around $1,480 buy and $1,530 sell on Monday, while the wholesale (mayorista) traded near $1,508.50, roughly 25.6% below the band ceiling of $1,894.30.
  • Financial alternatives trade materially above the official rate with the dólar MEP near $1,536–1,538 and the dólar CCL around $1,594–1,596, and the informal dólar blue sits near $1,525–1,545.
  • The dólar tarjeta remains about $1,989 because a 30% perception applied as an advance on Income Tax raises the effective cost of card‑based foreign spending.
  • The central bank’s recent net spot purchases have been minimal, about USD 5 million, and the Treasury’s conservative debt placements signal a deliberate policy to preserve short‑term calm.
  • August inflation of 1.7% will feed the October adjustment of the band ceiling, a process that market forecasts say will allow a modest, gradual depreciation of the peso over the coming months.