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Argentina’s FX Market Tightens as Treasury Caps Wholesale Dollar at AR$1,430

Gross reserves hover near US$42.63 billion, with tight spreads across exchange‑rate windows signaling a managed float.

Overview

  • Banco Nación listed the official dollar at AR$1,405 for buying and AR$1,455 for selling on October 7.
  • The parallel blue dollar traded at about AR$1,430/AR$1,450, leaving an unusually narrow or even negative gap versus the official rate.
  • The Treasury has been the active seller to enforce an intraday ceiling in the wholesale market, reportedly unloading about US$400 million on Monday and roughly US$1.35 billion across recent sessions.
  • Financial quotes showed segmentation across markets, with MEP near AR$1,499, CCL around AR$1,516, the crypto rate near AR$1,502, and the card rate at about AR$1,891.50.
  • BCRA gross reserves stood at US$42.628 billion after a one‑day drop of roughly US$70 million, with analysts’ survey projections pointing to further peso depreciation into year‑end.