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4w ago

Argentine Peso Nears FX Band Ceiling as Central Bank Sells to Hold the Line

Pre‑electoral dollarization tied to recent provincial results is stoking pressure across markets.

Precio del dólar hoy en Argentina
Caen acciones, bonos y ADRs
En el mercado minorista, el Banco Nación ofreció el dólar a $1465
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Overview

  • The wholesale rate jumped about ARS 98 on the week to close near ARS 1,453, leaving it roughly ARS 19 below the ARS 1,472 upper band.
  • Market sources said the Central Bank appeared with USD 10 million block offers at ARS 1,472 to cap the move, in line with IMF band‑defense rules.
  • Argentine stocks and sovereign bonds fell, with the S&P Merval down around 2%–2.5% and country risk reported near 1,047 basis points as bonds slid.
  • Financial and parallel dollars firmed as MEP hovered near ARS 1,468, CCL around ARS 1,481, blue at ARS 1,425, and USDT quotes near ARS 1,479 on Sunday signaled persistent demand.
  • Officials reiterated the exchange framework and fiscal anchor remain unchanged; Bausili noted a temporary monetary squeeze, Caputo stressed no policy shift, reserves stood near USD 40.36 billion, and the Treasury had not sold FX during the week.