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Argentina’s Peso Tests Band Ceiling as Central Bank Steps In With Heavy Dollar Sales

The official rate sits at ARS 1,515 on Banco Nación, with Caputo pledging to keep selling to hold the floating band.

Overview

  • Banco Nación quotes the dollar at ARS 1,465 for purchase and ARS 1,515 for sale this Sunday.
  • The blue dollar trades around ARS 1,500/1,520, with the gap versus the official rate now minimal.
  • Financial quotes show MEP near ARS 1,530 and CCL around ARS 1,544/1,550.7, reflecting a fragmented market.
  • The Central Bank sold US$678 million on Friday to defend the band, leaving gross reserves near US$39.26 billion.
  • Government changes to tax withholdings lifted the tarjeta rate to roughly ARS 1,950 for foreign card spending.