Overview
- The wholesale dollar closed at ARS 1,387 after a fifth straight decline, breaking below ARS 1,400 and sitting roughly 8.5% under the band ceiling.
- Analysts cited post‑election cooling in demand and roughly USD 3 billion in recent corporate and upcoming provincial debt placements as key sources of FX supply.
- BCRA chief Santiago Bausili said reactivating the U.S. swap is unnecessary, rejected a fixed reserve‑purchase calendar, and will buy dollars only as peso demand recovers, while acknowledging an estimated USD 8.2 billion reserve shortfall to be renegotiated with the IMF.
- The blue dollar was quoted around ARS 1,415/1,435, widening the gap with the official rate to roughly 4–4.5%, while Banco Nación listed the retail dollar at ARS 1,365/1,415.
- Local assets weakened as ADRs fell up to 6.1% and the Merval dipped below 2,000 points in dollar terms, even as the government reported an October primary surplus that keeps the year‑to‑date result near IMF goals.