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Blue Dollar Becomes Costliest as Argentina’s Official Rate Extends August Slide

IMF cash with liquidity‑draining tenders now props up the central bank’s managed float.

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Overview

  • Banco Nación’s sale quote hovered around ARS 1,320 on Tuesday, leaving the official dollar down roughly ARS 60 so far in August after an 11‑session decline and a low not seen since late July.
  • The informal blue traded around ARS 1,330–1,340, making it the most expensive dollar on the day and keeping the gap with the official near 0.7%.
  • Financial references stayed cheaper, with the MEP near ARS 1,299 and the CCL about ARS 1,306, while the wholesale quote remained the lowest reference in the market.
  • The BCRA refrained from spot MULC intervention late last week as gross reserves were boosted by a US$1.993 billion IMF disbursement, with reported stock near US$41.9 billion.
  • Reports described a tense meeting called by BCRA president Santiago Bausili after new limits on banks’ peso management drew strong pushback from major lenders.