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Argentina’s Official Dollar Falls After Treasury Auction, FX Gaps Narrow

A drop in reserves alongside a high risk premium signals that the rate convergence may be fleeting.

Overview

  • Finance Secretary Pablo Quirno reported a 114.66% rollover in the Aug. 28 peso auction, easing short‑term currency pressure.
  • Banco Nación set Friday’s opening at $1,345 for sale and $1,305 for buy, with the wholesale rate near $1,333 after the pullback.
  • The blue dollar traded around $1,330/$1,350 in Buenos Aires, hovering close to the official retail price.
  • Financial dollars stayed near parity with the official rate, with MEP and CCL around $1,341 and gaps of roughly 0.4%–0.6%.
  • The Central Bank said gross reserves fell US$292 million to US$40.961 billion as country risk edged up to about 853 basis points.