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[BUSINESS] · Argentina · 38 sources

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Argentina wholesale dollar breaks $1,500 barrier

The Argentine wholesale dollar has broken the psychological barrier of $1,500, reaching a new nominal record. On Monday, August 24, the wholesale rate closed at $1,510, marking a 0.7% daily increase and its largest single-day rise since June 3.

This movement suggests a shift in government strategy, moving toward greater exchange rate flexibility to alleviate pressure on local interest rates and manage liquidity. While the Central Bank (BCRA) continues to intervene through the futures market and dollar-linked instruments, the breach of the $1,500 level indicates that demand for foreign currency is testing official containment measures.

In the retail market, the official dollar at Banco Nación closed at $1,480 for purchase and $1,530 for sale. The informal blue dollar was recorded at $1,545 for purchase and $1,565 for sale. Financial segments such as the MEP dollar and CCL also showed upward trends. The Central Bank's gross international reserves have recently reached levels near $51 billion, marking a significant milestone during the current administration.

Entities

Argentina · Banco Nación · Central Bank of Argentina · Central Bank of the Argentine Republic · Javier Milei · PPI · Santiago Bausili · Treasury

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