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Argentina's FX Rates Steady Near New Bands as Stocks Extend Post‑Election Rally

Investor optimism faces a test from thin reserves ahead of an IMF interest payment.

Overview

  • Banco Nación quoted the official dollar at ARS 1,450 for buying and ARS 1,500 for selling.
  • The blue dollar traded near ARS 1,440–1,445, while the wholesale rate closed around ARS 1,482, just below the band’s ceiling near ARS 1,497.5.
  • Financial-dollar gauges showed the MEP at ARS 1,500.47 and the CCL at ARS 1,521.99, leaving narrow spreads versus the official rate.
  • BCRA international reserves were reported at about US$40.786 billion, with an IMF interest payment of roughly US$822 million flagged as a near-term drain.
  • Following cabinet announcements and the first meeting led by President Javier Milei—naming Alejandro Lew, Manuel Adorni, Pablo Quirno and Diego SantilliBuenos Aires stocks rose about 3% and Argentine ADRs advanced in New York.