Overview
- The Argentine wholesale (mayorista) dollar set a new nominal high at ARS 1,542 on Wednesday, October 28, driven by stronger intraday demand.
- The Banco Central de la República Argentina completed a third straight session without intervening in the foreign‑exchange market while reporting a modest reserves rise of about USD 21 million.
- Investors and firms pushed activity into financial and crypto hedges as market dollars rose: the contado con liquidación traded near ARS 1,660 and the MEP around ARS 1,571 while stablecoin‑linked 'dólar cripto' quoted in the mid‑AR$1,600s and Bitcoin traded near US$81,500.
- The informal dólar blue corrected down by ARS 10 to ARS 1,565, narrowing its gap with the Banco Nación retail sale rate of ARS 1,560 and reducing the blue‑official spread to roughly 1.5% in some reports.
- Policy context matters because the BCRA's intervention band runs from about ARS 713 to ARS 1,948, so month‑end demand, export flows and position rolloffs are likely to keep price pressure inside those limits and sustain use of financial routes that let savers move pesos into dollars.