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Argentine FX Rates Converge as Official Dollar Falls to $1,360 and Country Risk Hits 850

Traders attribute the late pullback to presumed BCRA intervention in futures.

Overview

  • Banco Nación’s retail dollar closed at about $1,360 after a roughly $10 intraday drop, marking a second decline this week.
  • The blue dollar finished near $1,355 and the gap with the official narrowed to around 1%, while MEP hovered near $1,358 and CCL traded around $1,365–$1,372.
  • Market reports said the Central Bank steered the move via futures rather than spot sales, and recent communications indicated no intervention in the MULC in previous sessions.
  • J.P. Morgan’s country risk gauge climbed to roughly 850 points, extending a two-day rise and signaling persistent investor caution.
  • Authorities continued liquidity absorption, with the Treasury placing 114% of weekly peso maturities, as IMF inflows lifted gross reserves toward $43 billion.