The official wholesale dollar closed this Wednesday with a 0.14% drop, marking its second consecutive fall, in a session marked by the expectation of a decisive Treasury bond auction and the recent rate cut by the Central Bank (BCRA). In the wholesale segment, the exchange rate ended at ARS 1.443 for purchase and ARS 1.452 for sale, two pesos below Tuesday's rate. At the Banco Nación, the retail dollar closed at ARS 1.475, ten pesos less than on Tuesday. Operations totaling USD 801 million were traded, according to data from PR Corredores de Cambio. Among financial dollars, the MEP fell 0.9% to ARS 1,482.68, while the Count with Liquidation (CCL) dropped 0.7% to ARS 1,503.22. With this movement, the dollar managed to move away from the ceiling of the exchange rate band, which is around 3.2%. “After approaching the band's ceiling again amidst rumors of Treasury intervention and a sharp drop in peso rates, the wholesale dollar starts the week with a slight easing, although within an expectant tone,” explained economist Gustavo Ber, referring to the 3 percentage point cut that brought the monetary policy rate from 25% to 22% annual nominal rate (TNA). In the retail market, the average exchange rate closed at ARS 1,423.83 for purchase and ARS 1,476.48 for sale, according to the BCRA's daily survey. The card or tourist dollar, with the 30% surcharge deductible from Income Tax, stood at ARS 1,917.5. On the futures market, contracts showed widespread declines of up to 0.9%, with a wholesale dollar projected at ARS 1,467.5 for the end of November and ARS 1,502 for December. In the informal circuit, the blue dollar also followed the bearish trend and closed at ARS 1,440 for sale, according to a survey by Ámbito in the Buenos Aires financial district. The volume traded in cash operations exceeded USD 532.9 million, ahead of the Thursday bank holiday.
