The blue dollar fell by 80 pesos during the last week of October following the electoral victory of Javier Milei's administration. As a result, the buying rate is set at 1,425 pesos and the selling rate at 1,445 pesos. The trading of the parallel currency saw a notable decline last week after it had exceeded 1,500 pesos on the last business day before the national legislative elections. The victory of La Libertad Avanza (LLA) brought relief to the markets and eased pressure on the exchange rate, as Argentines turned to the dollar as a hedge against the uncertain political and economic outlook of the country. This shift in trend was also reflected in other exchange rates, albeit with a lesser impact, such as the official dollar, which fell by 40 pesos from its pre-election value—half the decline seen by the blue dollar. In this context, the wholesale official dollar closed the post-election week at 1,445 pesos, 3.2% below the previous Friday and 3.4% below the ceiling of the exchange rate band (1,496 pesos). Looking ahead to the first week of November, expectations will focus on the evolution of the dollar, driven by market demand levels and the stance of the Central Bank, which may begin purchasing currencies to accumulate reserves.
