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Argentina's Markets Calm as BCRA Steps Up Dollar Purchases

Central Bank buying has rebuilt reserves and reduced parallel‑market pressure, easing investor risk perceptions.

Overview

  • The official retail dollar at Banco Nación fell to $1,535 and the wholesale closed at $1,517 on Friday, Oct. 9, while MEP traded around $1,538 and CCL near $1,611–1,612.
  • The BCRA bought about US$69 million on Friday, bringing weekly purchases to roughly US$212 million and lifting October’s net inflows to about US$340 million.
  • The informal blue rate ended near $1,540 after a $20 weekly drop, narrowing the gap with the official rate and signalling reduced demand in the parallel market.
  • Sovereign assets recovered: Argentine bonds rose and the JPMorgan risk‑country index slipped below 600 to roughly the high 500s, a move linked to spillovers from Brazil’s election outcome, higher oil prices and global rates.
  • Authorities say reserve gains depend on planned export inflows from agriculture and energy, so the calm could prove fragile if dollar demand rises ahead of the 2027 elections or if external conditions change.