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Argentina’s Dollar Rates Align as Central Bank Builds Reserves

Fresh BCRA dollar purchases lifted gross reserves near US$44.7 billion to help narrow exchange-rate gaps.

Overview

  • Banco Nación’s retail dollar was quoted at ARS 1,490 for buying and ARS 1,510 for selling on Friday.
  • The blue dollar traded around ARS 1,510 in Buenos Aires and about ARS 1,526 in Córdoba.
  • Financial quotes showed tight spreads, with CCL near ARS 1,510 and MEP around ARS 1,474, while the wholesale rate hovered at ARS 1,441.
  • The card/tourist rate stood near ARS 1,911, reflecting the 30% tax over the official price for foreign card spending.
  • The BCRA bought roughly US$562 million year to date, gross reserves were reported near US$44.7 billion, and country risk eased to about 571 points as dollar bonds rebounded.