Overview
- The central bank reported that in the first 12 months after lifting individual currency controls Argentines bought US$52,365 million for atesoramiento, making this the largest 12-month gross purchase total since 2019.
- Major banks told the central bank they will open retail dollar sales at about ARS 1,430 on Monday, June 1, setting a common starting price for public transactions.
- Parallel and financial rates remain higher than the bank quote with the informal 'blue' around ARS 1,410/1,430, the MEP near ARS 1,432/1,435, the CCL near ARS 1,481/1,484 and the 'dólar tarjeta' at about ARS 1,859.
- Despite heavy private demand, the BCRA recorded an increase in international reserves of US$2,464 million in April, a key cushion officials say supports the currency liberalization policy.
- Regional FX markets are broadly steady with the Peruvian sol and Mexican peso trading near recent levels, but investors remain cautious because US–Iran tensions and U.S. interest-rate expectations could quickly alter flows and pressure Argentina’s need for steady export receipts and external financing.