23/06/2026 22:20 - Economia
The Argentine foreign exchange market is showing the first signs of a slowdown in the 'tailwind' (viento de cola) that characterized the first months of the year. The Central Bank (BCRA) has reduced its daily purchase of foreign currency from an average of $138 million (April-May) to $79 million in June, hitting a low of $50 million on Monday, June 22, 2026.
This deceleration coincides with a 3.8% increase in the wholesale dollar in June, exceeding the estimated inflation of 2% for the same period and accumulating a 5.1% rise over the last month according to private consultants.
For international readers: The 'Blue' dollar refers to the informal parallel exchange rate commonly used by tourists.
| Dollar Type | Price (ARS) |
|---|---|
| Official (Sale) | $1,480 |
| Official (Purchase) | $1,430 |
| Blue (Informal) | $1,480 |
| Crypto | $1,531 |
Indicator
Value
The Argentine economy grew by 0.7% in the first quarter of 2026, driven mainly by the energy sector—specifically in Neuquén province (the heart of the Vaca Muerta shale formation), which increased exports by 103.5% year-on-year. Energy exports for 2026 are projected to reach USD 11 billion.
The Country Risk level of 425 basis points represents the lowest level since April 2018, reflecting improved international investor perception. However, private sector demand exceeds $2 billion monthly, placing pressure on the exchange market.
In economic terms, 'tailwind' (viento de cola) refers to favorable external conditions that boost a country's growth, such as high commodity prices or capital inflows. Conversely, a 'headwind' implies obstacles. The current data suggests these favorable winds are calming down, requiring internal adjustments.
Last update: June 23, 2026
Alfredo S. Quiroga
