Last week, the parallel dollar fell by ARS 80, but it continues to decline, moving away from the high of ARS 1,550 it reached on October 22. Meanwhile, the official dollar rate on Monday, November 3, rose by ARS 10. At the Banco Nación, it is trading at ARS 1,435 for purchase and ARS 1,485 for sale. The official rate was volatile throughout October due to pre-election tensions. Although it fell by ARS 40 last week, it still posted a monthly increase of ARS 25. The wholesale dollar is currently at ARS 1,432.20 for purchase and ARS 1,482 for sale, close to the top of the exchange rate band set by the Central Bank (BCRA) at ARS 1,496.02. The card dollar, used for digital services and tourism, is now at ARS 1,917.50 following government changes to income and personal asset taxes. Consequently, the gap between the official and parallel rates is negative at (-3.7%). The dollar started the month at ARS 1,450, peaked at ARS 1,550 ahead of the elections, and then fell back to ARS 1,460 following the decisive victory of the ruling party. The parallel rate is ARS 200 higher than its value at the beginning of the year (it ended 2024 at ARS 1,230). On Friday, the Central Bank (BCRA) did not intervene in the Unified and Free Foreign Exchange Market (MULC). According to data released by the monetary authority, reserves now stand at USD 39.382 billion after the latest movements. The parallel dollar rate on Monday, November 3, is down ARS 15, trading at ARS 1,410 for purchase and ARS 1,430 for sale.
