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1h ago

Argentine Peso Slides as Official Dollar Hits ARS 1,370 and Market Losses Deepen

A bribery probe with tight peso liquidity is stoking pre‑election pressure, traders say.

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Cada vez más personas y familias con problemas para pagar los créditos tomados
ingresos y consumo cada vez es mas dificil ser propietario de una vivienda hacen falta 69 sueldos para comprar un dos ambientes ECONOMIA Nota sobre ventas de departamentos Foto Guillermo Rodriguez Adami buenos aires informe sobre cuantos sueldos se necesitan para comprar una vivienda casa vez es mas dificil ser propietario de una casa cartel carteles de venta de departamentos inmuebles
Traders Jonathan Mueller, left, and Michael Capolino work on the floor of the New York Stock Exchange, Monday, Nov. 1, 2021. Stocks are opening modestly higher on Wall Street Monday, bringing major indexes a bit further past the record highs they set last week. (AP Photo/Richard Drew)

Overview

  • Banco Nación’s retail dollar rose 2.6% to ARS 1,370 as the wholesale rate jumped about ARS 41 to ARS 1,362.
  • The blue dollar closed near ARS 1,365 and MEP/CCL climbed into the ARS 1,350–1,360 range, narrowing spreads with the official market.
  • Argentine assets fell sharply, with bank ADRs losing up to about 8% and sovereign bonds also declining.
  • Futures and pricing implied the wholesale rate near ARS 1,356 at end‑August and above ARS 1,550 by December, with futures volume around US$2.0 billion.
  • Recent IMF funds of roughly US$1.993 billion lifted reported gross reserves to about US$41.5 billion, and the BCRA did not intervene in spot trading on Friday as high short‑term rates and liquidity strains persisted.