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Argentina’s Official Dollar Closes at 1,400 Pesos as Authorities Step In and Fintechs Halt Sales

The Central Bank denied fresh curbs and reiterated that only banks and exchange houses may sell retail dollars.

Overview

  • Banco Nación’s retail dollar ended at ARS 1,400 after the wholesale rate spiked near ARS 1,450 intraday and later settled around ARS 1,379.69 on reported Treasury sales.
  • Traders reported an official offer near US$550 million at ARS 1,380 that helped cap prices within the managed band, with heavy volumes and firmer dollar futures.
  • Financial and parallel rates climbed, with MEP around ARS 1,487–1,494, CCL near ARS 1,528–1,538, and the blue at ARS 1,445, widening the gap with the official market.
  • Several digital wallets, including Cocos Capital and Mercado Pago, paused retail dollar sales after provider BIND cut access, while the Central Bank said Alyc-licensed firms can continue offering MEP/CCL.
  • Argentine assets fell as sovereign bonds declined and the country risk rose above 1,200 basis points, extending pressure on local markets at month’s end.