Overview
- The wholesale rate closed near ARS 1,387 with the retail at ARS 1,415, while the blue traded at ARS 1,435 and financial prices such as CCL (~ARS 1,485) and MEP (~ARS 1,446) widened the spread to roughly 7% versus the official.
- BCRA president Santiago Bausili ruled out reactivating the U.S. swap and said the central bank will only buy dollars once money demand strengthens.
- Bausili signaled that reserve accumulation goals will be renegotiated with the IMF given the sizable shortfall to current targets.
- Recent corporate bond sales of roughly USD 2.9–3.15 billion and expected provincial placements are supplying dollars that help cap the official rate within the band system.
- Stocks and dollar bonds weakened—ADRs fell up to about 6% and the Merval slipped below 2,000 dollars—while futures now price the exchange rate below the band’s ceiling through mid‑2026.