Overview
- Official and parallel exchange rates slipped on Thursday, with Banco Nación at $1,470 for sales, the wholesale rate at $1,444—about $69 below the Central Bank’s band ceiling—and the blue at $1,430.
- After a strong rally, equities paused with the S&P Merval down 1.1%, while dollar bonds held firm and country risk hovered near 634–639 basis points as sovereign yields moved into single digits.
- The Central Bank’s REM shows expected monthly inflation at 2.3% in November and 2.1% in December, with early‑2026 readings seen below 2% and a December‑average exchange rate near $1,473.
- The IMF urged a coherent monetary and exchange framework and faster reserve accumulation, said the year‑end reserve target looks challenging, and announced a technical mission arriving in the coming days.
- Analysts flagged sharply lower peso returns—many below 2% monthly—alongside weaker export FX supply, noting futures still price the banded regime into March 2026 and warning seasonal demand could test the calm.