Overview
- The peso crossed the ARS 1,500 mark on Wednesday when Banco Nación reported a retail sale price of ARS 1,510, while the informal blue and financial dollars traded around ARS 1,525 and ARS 1,520–1,571 respectively.
- In June the Central Bank slowed reserve purchases to about USD 1,418 million for the month and on the last trading day bought only modest amounts, reflecting a drop in its pace of accumulation.
- Rather than large spot sales, the BCRA stepped up sales of dollar futures and dollar‑linked securities to withdraw pesos from the system and blunt short‑term exchange volatility.
- Markets saw heavy trading: wholesale FX volumes topped USD 800 million and futures activity approached USD 1.7 billion, with equities falling while sovereign bonds rose and the country risk measure eased to roughly 420–424 basis points.
- Analysts say the move stems from the end of harvest inflows, weaker commodity terms and a firmer US dollar, and the market now expects a managed, gradual peso adjustment whose main risks are higher inflation pass‑through and pressure on household prices.