Overview
- The central bank has been a net buyer of dollars in recent sessions and in October accumulated about USD 983 million, lifting gross international reserves to roughly USD 50.2 billion.
- Key exchange references on Monday 19 October show the Banco Nación retail rate at 1,485/1,535 pesos, the mayorista near 1,518, the blue around 1,535/1,555, the MEP about 1,534.3 and the CCL about 1,618.4.
- Since January the BCRA has bought roughly USD 15.55 billion under its program, a pace that helped the bank exceed its earlier annual target and reduced short‑term pressure on the wholesale rate.
- Consumers and businesses still face material cost gaps because the tarjeta (card) rate applies a 30% perception and financial and crypto channels trade notably above the official price.
- External factors such as U.S. interest‑rate moves, oil prices and regional currency shifts remain key risks to the trend and will determine whether central‑bank purchases can sustain reserve gains and keep spreads contained.