Overview
- The Banco Nación retail dollar was set at ARS 1,495 on Monday, June 29, while the official wholesale rate traded around ARS 1,477–1,481.
- Financial quotes and the informal market stayed above ARS 1,500, with MEP and CCL roughly ARS 1,499–1,554 and the blue near ARS 1,510–1,515.
- The central bank continued to end sessions as a net buyer of dollars but sharply slowed daily purchases, with average buys dropping from about US$139.5m in May to US$64.9m in June and greater use of futures and dollar‑linked bonds.
- Analysts point to a stronger U.S. dollar, lower commodity prices and the seasonal winding down of grain liquidations as the main reasons for reduced dollar supply and recent peso depreciation.
- Markets are focused on near-term fiscal flows that could add pressure: a roughly ARS 3 trillion peso issuance this week and a US$4.3bn external amortization due July 9, with the June carry trade already posting a monthly loss that signals tighter local liquidity and higher funding costs.