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Argentina’s Dollar Market Shows Unusual Convergence as Blue Tracks Official Rate

Higher funding costs hint at tighter liquidity alongside a small reserve decline.

Overview

  • The central bank’s average retail dollar was ARS 1,407.66 for buying and ARS 1,460.20 for selling, with Banco Nación quoting ARS 1,405/1,455.
  • The blue dollar traded at ARS 1,430/1,450, compressing the gap with bank screens to roughly 1–2% and slightly negative in some measures.
  • Financial exchange rates remained above the official level, with the MEP around ARS 1,499 and the CCL near ARS 1,519.
  • Gross international reserves fell by about US$70 million to US$42.628 billion, and the central bank reported no spot intervention in the MULC.
  • Short-term market rates rose, with TAMAR at 44.13% from 42% and BADLAR at 40.88% from 40.38% in recent readings.