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Illustration of rising US dollar exchange rate against Argentine peso at Banco Nación bank.
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Official dollar nears $1,500 and hits highest value of the year

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The official dollar closed on Wednesday, June 24 at $1,445 for purchase and $1,495 for sale at Banco Nación, up $5 from the previous close.

On Tuesday, June 23 the country risk rebounded to 433 points and the official and blue dollar reached their highest values since January. International stock markets fell and Argentine shares on Wall Street traded lower.

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The official dollar reached 1,480 pesos for sale on Friday, June 19, marking its fourth consecutive increase.

The official dollar quoted at $1,420 for selling on Friday April 24, marking an increase from the previous week. The blue dollar also closed at $1,420, up $10. Financial dollars showed similar rises on a day of high trading volume.

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The US dollar closed higher against the Colombian peso at $3,576.10, up $2.80 from the TRM of $3,573.30. The rise followed a new government repurchase of global bonds, the third in the past year. Meanwhile, crude oil prices fell amid expectations of US-Iran peace talks.

Despite the ongoing war in West Asia battering global markets, gold prices in domestic and global markets are down around 27% from their January peak. Even after a nearly 2% rally over the last couple of days, high crude oil prices are fueling inflation fears, curbing safe-haven demand for gold. The US dollar has emerged as the preferred safe asset.

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Argentina's Central Bank (BCRA) purchased US$146 million in the foreign exchange market, continuing an ongoing streak of more than 50 consecutive days of net buying and approaching 40% of its annual reserve accumulation target. Gross reserves closed at US$43.800 million.

 

 

 

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