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Argentina’s FX Market Calms as Official Dollar Holds at ARS 1,375 and Blue Trades Near ARS 1,405

Recent U.S. support is credited for calmer trading before the October 26 elections.

Overview

  • Banco Nación quoted the official dollar at ARS 1,325 for purchase and ARS 1,375 for sale on Tuesday, October 14.
  • The informal dólar blue traded at ARS 1,385/1,405 after a sharp ARS 70 drop earlier in the week, narrowing its gap with the official rate.
  • Financial dollars were stable, with MEP around ARS 1,409.92 and CCL near ARS 1,440.12, while the dólar tarjeta stood at about ARS 1,787.50 due to a 30% surcharge.
  • Gross international reserves rose roughly US$195 million on Monday to US$42,251 million, according to central bank data reported by the press.
  • Local coverage attributes the calmer tone to U.S. Treasury peso purchases and a reported US$20 billion swap line, though traders still flag election-related risk later this month.