15/07/2026 19:22 - Economia
The Argentine financial market is showing highly encouraging signs of stability. The official dollar has registered its biggest drop since April 30, falling by 10.50 pesos in its wholesale exchange rate, settling at 1,471.50 ARS. Meanwhile, at Banco Nacion (Argentina's largest state-owned bank), the bill was offered at 1,495 ARS. This bearish trend stretches the distance to the ceiling of the exchange rate band, which currently sits near 1,816 ARS, generating a comfortable 24% margin that brings peace of mind to economic agents.
Other exchange rates also accompany this scenario of calm: the blue dollar (the informal street exchange rate) stands at 1,520 ARS, the MEP dollar (Market Electronic Payment, used for local stock purchases) at 1,511.93 ARS, and the contado con liquidacion (CCL) (cash settlement, used for foreign stock purchases) at 1,558.39 ARS. According to Cba24n, this movement reflects the strength of the current monetary policy.
The Central Bank of the Argentine Republic (BCRA) continues to consolidate its international reserves. In a single trading session, the institution purchased USD 532 million, marking the highest purchase amount of the year. This operation is framed within the robust USD 20 billion shield that the BCRA maintains to sustain dollar stability and anchor devaluation expectations.
This solid external backing is complemented by a fundamental domestic data point: June 2026 inflation was 1.9%, breaking the 2% barrier for the first time in 10 months. Accumulated inflation for the first semester stands at 16.8%, while year-over-year inflation dropped to 33.5%.
Following the successful payment of USD 4.2 billion in sovereign debt (of which USD 2.5 billion corresponded to coupons), the National Treasury will launch the new Bonar 2029 (AO29) for up to USD 2 billion on July 15, 2026. Curiously, and in keeping with the country's football fervor, the bidding will close at 1:00 PM local time so as not to interfere with the 2026 World Cup semifinal match between Argentina and England.
The country risk remains at optimistic levels, oscillating between 402 and 410 basis points. In turn, the International Monetary Fund (IMF) projects 3.5% growth for the Argentine economy. This favorable outlook will be boosted by the upcoming visit of the IMF Managing Director, Kristalina Georgieva, scheduled for July 27, 2026, as highlighted by various financial media outlets.
Alfredo S. Quiroga
