Economy Country March 08, 2025

Central Bank Sells 224 Million USD in Currency Intervention

The Central Bank sold 224 million USD as international reserves dropped by 92 million, affecting exchange rates significantly in Argentina's currency market today.


Central Bank Sells 224 Million USD in Currency Intervention

The Central Bank had to sell US$ 224 million today on the last business day of the week, which caused international gross reserves to decrease by US$ 92 million, totaling US$ 28.087 billion due to debt payments. The market indicated that the monetary authority continues to intervene significantly in the quotes of exchange rates.

Regarding the behavior of the dollar, in the retail modality and without taxes, a quote of $1,035.13 was recorded for buying and $1,094.53 for selling. Meanwhile, at the National Bank, the currency rose to $1,046 and $1,086 for buying and selling respectively. In the wholesale segment, the dollar increased by $2 and closed at $1,066.50 per unit.

Futures dollar contracts showed mixed movements after the significant increases observed in the previous session. In the parallel market, the blue dollar remained stable at $1,215, generating a gap of 13.9% compared to the official dollar. On the other hand, the MEP dollar was at $1,216.67, while the Cash with Settlement (CCL) was quoted at $1,217.51, establishing a spread of 14.2% with the official dollar.

In relation to other quotes, the credit card or tourist dollar, and the savings dollar, which is equivalent to the official retail dollar plus a 30% surcharge deductible from Income Tax, operated at $1,411.80. For its part, the crypto dollar reached $1,239, and Bitcoin was traded at US$ 88,855.