Overview
- This week the wholesale peso‑dollar rate held around $1,480 and the Banco Nación minorista near $1,500 thanks to continued BCRA net purchases that have pushed gross reserves toward about USD 48.5–48.8 billion.
- The informal cash market (dólar blue) rose to roughly $1,540–1,545 for sale, the highest in months, widening the gap with the official rate and signaling segmented demand in unregulated channels.
- Financial‑market references split: the MEP traded around $1,508–1,513 while the CCL hovered near $1,567, and Argentine equities and ADRs—led by energy names—recovered, some rising up to about 5% on higher oil and earnings news.
- Authorities are using multiple tools to supply dollars, including persistent BCRA interven tions in the spot market, Treasury dollar‑linked operations and a dollar‑linked canje, and the government approved large energy projects expected to boost exports over time.
- External risks remain a key wildcard because attacks near the Strait of Hormuz and higher oil prices can alter revenue and flows, so markets will watch export receipts, BCRA buying, and sovereign risk measures for signs of renewed pressure.