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Argentina’s FX Market Holds Near 1,400 as Blue Dollar Slips and Gap Compresses

Analysts tie the calm to renewed access to dollar financing.

Overview

  • - The official dollar at Banco Nación is selling around $1,425, the wholesale rate is near $1,400, and the blue trades about $1,430, narrowing the gap to roughly 3%–5%.
  • - Exchange-based and crypto-linked dollars remain higher, with MEP near $1,440, CCL around $1,471–$1,477, and stablecoins quoted near $1,47k–$1,49k.
  • - After five straight declines that took the wholesale rate to about $1,387 on Nov. 18, it moved back to roughly $1,400, reinforcing the current “pax cambiaria.”
  • - Market commentators cite brisk corporate placements and expected provincial deals as key to the stabilization, with PPI and Gustavo Ber pointing to supportive flows under the banded regime.
  • - The Economy Ministry reported an October primary surplus and officials engaged investors on reserves and possible liability management, while local stocks edged higher and global bonds were mixed.