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Argentina’s FX Market Calms as Official and Blue Dollar Rates Align

Milei’s vow to keep currency bands through 2027 steadies sentiment, with sovereign risk slipping below 600 basis points.

Overview

  • Banco Nación quoted the official dollar at ARS 1,395 (buy) and ARS 1,445 (sell) on November 10, while the blue traded at ARS 1,395/1,415, leaving a near‑zero gap.
  • Financial dollars held slightly higher levels, with the MEP around ARS 1,454.69 and the CCL near ARS 1,470–1,471; the wholesale rate hovered at ARS 1,415.
  • Policy signals diverged as media reported that Finance Minister Luis Caputo is evaluating adjustments to the bands, even as President Javier Milei affirmed the framework will remain in place until 2027.
  • The dollar tarjeta for card and travel spending remained at the official retail rate plus a 30% surcharge, reported at ARS 1,878.50.
  • Argentine dollar bonds extended gains and the country risk measure fell to roughly 596 points, with market chatter pointing to coordinated TreasuryCentral Bank dollar purchases to support IMF reserve goals.