Overview
- The official wholesale dollar traded near the informal ARS 1,500 reference, around ARS 1,499 on Monday, as authorities and the market probed that level.
- The Government and the Central Bank have leaned on dollar-linked bonds, futures operations and tighter peso liquidity to keep the mayorista near the reference and to limit outright FX sales.
- That defense has pushed short-term peso yields into the mid-to-high 20s percent range, raising the cost of credit for businesses and households and risking slower growth.
- Parallel and financial-dollar quotes—blue, MEP and CCL—remain materially above the official rate, while gross reserves stand above USD 50.6 billion even as official net purchases have moderated.
- Regionally, a weaker U.S. dollar has helped the Mexican peso strengthen to about MXN 16.9 per USD, with analysts saying further gains toward MXN 16.50 are possible but that the peso looks overbought and could correct.