Overview
- The official wholesale dollar traded just under the informal 1,500 level on Tuesday, August 4, as the Banco Central resumed net buying (reported at about US$18 million) and reserves recovered above US$49 billion.
- Authorities have combined visible dollar purchases with sales of dollar‑linked securities and increased short positions in futures to manage expectations of a sharper devaluation.
- The Treasury has drained pesos through large auctions — one recent licitation absorbed about $3.75 trillion — tightening domestic liquidity and lifting short‑term interest rates.
- Parallel and financial rates moved closer to the official quote: the informal 'dólar blue' dropped for three sessions while MEP and CCL traded in the mid‑to‑high 1,500s, keeping a persistent premium over the mayorista.
- Markets watch sustainability: lower seasonal agro export liquidations and external shocks from U.S. data or Middle East developments could test the costly mix of interventions now in use.