Economy Country October 23, 2024

Argentine Economy: Key Financial Updates

Argentina's annualized nominal rate reaches 35%. The blue dollar trades at $1,245 while the official rate is at $956.92. The Central Bank's findings boost international reserves significantly. Key financial indicators show potential for a 6.6% exchange rate increase ahead.


Argentine Economy: Key Financial Updates

The annualized nominal rate (TNA) for the end of this year was 35%, while for the coming year it reached 37.08%. The blue dollar traded at $1,245 for sale. Meanwhile, the MEP dollar is quoted at $1,166.86, making the gap with the official rate stand at 18.5%. The Contado con Liquidación (CCL) operates at $1,195.70 and the spread with the official rate reaches 21.5%.

The card or tourist dollar, and the savings dollar (or solidarity) were offered at $1,607.20, and the crypto or Bitcoin dollar is quoted at $1,208.21. This is 50 cents above Monday's close. The future dollar contract for the end of October fell 0.1% to $993. The Central Bank managed to buy today US$ 174 million, the highest amount in a month and the second highest in the last five months. It has had 16 rounds without net sales of foreign currency in the official exchange market and in the accumulated for October shows a favorable result of US$ 958 million. Thus, international gross reserves increased by US$ 84 million, to US$ 28,407 million.

The official dollar - without taxes - quoted at $956.92 for buying and $1,015.30 for selling. In the official exchange market, the wholesale dollar closed at $984.50 per unit. With these figures, from now until the end of the year, the market expects a 6.6% increase in the exchange rate. The contracts for 2025 also had mixed behavior. Likewise, for November it remained stable at $1,020 and for December it increased by 0.1% to $1,050.