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Argentina’s Dollar Market Splits Persist as BCRA Stays Out of Trading

Further loosening of corporate currency curbs hinges on Argentina’s ability to tap international debt markets.

Overview

  • Banco Nación quoted the dollar at ARS 1,475 for sale, while the informal blue traded around ARS 1,530 in Buenos Aires and ARS 1,546 in Córdoba.
  • The central bank said it did not intervene in the MULC on Monday, citing a trading range that remained within its published bands of ARS 916.89 to ARS 1,525.58.
  • Wholesale dollars traded near ARS 1,457, with financial rates at roughly ARS 1,484 for MEP, ARS 1,527 for CCL, and about ARS 1,518 in crypto markets.
  • A 30% perception on foreign card spending remains in place, putting the effective dollar-card rate near ARS 1,917 to ARS 1,937 depending on the bank.
  • The BCRA’s 2026 objectives tie any additional easing of company-level FX restrictions to stronger access to external debt markets and improved market balance.