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Argentina’s Split Dollar Market Shows Modest Premiums Over the Official Rate

Markets price a likely Fed rate cut, influencing local quotes.

Overview

  • Banco Nación quoted the official dollar at AR$1,410 for buying and AR$1,460 for selling, with the wholesale rate at AR$1,435.
  • The blue dollar traded near AR$1,415/1,435, the MEP around AR$1,473–1,479, and the CCL about AR$1,505.
  • Premiums over the official rate were reported at roughly 2.6% for the MEP and 4.9% for the CCL.
  • The card rate was quoted at about AR$1,898 due to tax surcharges, while the crypto dollar hovered near AR$1,490.
  • In related regional moves, Mexico’s peso eased to roughly 18.19–18.26 per dollar as traders positioned for a potential 25 bp Fed cut.