Argentina's official dollar climbs as Central Bank purchases $230 million
The Argentine official exchange rate rose to about $1.474–$1.495 per US dollar after three days of decline, while the parallel "blue" rate stayed near $1.525. The rise came as the Banco Central de la República Argentina (BCRA) intervened, buying $230 million in dollars on the day, part of a week‑long purchase spree that added $1.115 billion to reserves. Total foreign‑exchange reserves now stand at $48.531 billion, with cumulative 2026 purchases exceeding $12.5 billion.
Market reaction was negative: the S&P Merval fell 3.7% in dollar terms, its steepest slide in three weeks, and sovereign bonds slipped about 0.3%. Country risk rose to roughly 410 basis points, though analysts expect a Moody’s rating upgrade. Bank stocks led the equity losses, while the energy firm Ecogas was the lone gainer.
The BCRA’s policy of daily dollar accumulation aims to reinforce the reserve buffer and keep the official rate stable ahead of the August band‑ceiling adjustment, which could allow the wholesale dollar to reach up to $1.880 before mandatory intervention.