Overview
- The wholesale rate closed near $1,387, roughly 8.4%–8.5% below the band’s upper limit after five straight declines.
- Parallel and financial rates stayed higher — blue around $1,415/$1,435, MEP near $1,446 and CCL around $1,486–$1,490 — widening spreads versus the official market.
- BCRA president Santiago Bausili ruled out reactivating the U.S. swap and said reserve accumulation would wait for stronger peso demand, with the IMF reserve target to be renegotiated.
- A wave of corporate debt placements in November (about USD 3.15 billion) and seasonal export liquidations boosted foreign-exchange supply and pressured the official price lower.
- Despite the softer official dollar and futures now pricing levels below the band through mid-2026, Argentine stocks and bonds fell, and the Economy Ministry reported an October primary surplus, bringing the year-to-date tally to about 1.4% of GDP.