Argentina's central bank buys record $532 million, dollar stabilises

In July 2026 the Argentine government injected more than US$1 billion into futures contracts and dollar‑linked bonds to curb a sharp rise in the peso‑dollar rate. The intervention helped pull the wholesale official dollar down to 1,482 pesos, the lowest level since 30 June, and trimmed the retail rate to 1,505 pesos.

The Banco Central de la República Argentina (BCRA) then purchased a record US$532 million of foreign currency, the largest single‑day buy since December 2022 and the biggest in the Milei administration. That transaction marked the 126th consecutive day the central bank recorded a net buying position, bringing total 2026 purchases above US$12 billion and lifting international reserves to US$48.7 billion.

Analysts say the combined measures aim to reduce exchange‑rate volatility, keep the peso within the 1,822‑peso band, and temper inflation expectations. While the informal “blue” dollar rose slightly to around 1,520 pesos, the overall market showed increased stability after the large‑scale interventions.