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Argentina’s Retail Dollar Holds While Wholesale, Blue and Financial Rates Pull Back

Large Central Bank FX purchases have damped market swings, leaving intervention capacity tied to seasonal agricultural flows.

Overview

  • The Banco Nación retail dollar remained unchanged at 1,535 pesos per dollar in the latest quotes, keeping the official consumer rate stable.
  • Other market segments retreated from a midweek surge, with the wholesale (mayorista) around 1,510 pesos and the informal blue near 1,550–1,555 pesos by recent closes.
  • Financial-dollar rates and futures showed modest declines, with the MEP trading near 1,533 and the CCL around 1,596–1,600 while December futures were about 1,602.
  • The Central Bank (BCRA) has accumulated roughly US$14 billion so far this year, surpassing its US$10 billion goal and providing liquidity even as daily purchases slowed due to weaker seasonal farm sales.
  • Banks are closed for the weekend so market participants expect Monday’s official opening to reflect Friday’s close and consumers using cards face a dollar tarjeta near 1,995–2,003 pesos after the 30% tax.