The blue dollar closed on October 31 at 1,445 pesos for selling, after a slight variation from the previous day. The Merval index hit a historic high above 3 million points, driven by electoral support for the government. The country risk fell to 657 basis points, its lowest level in nine months.
In the last trading day of October, the Argentine foreign exchange market showed stability in the blue dollar, which quoted at 1,425 pesos for buying and 1,445 for selling, according to Perfil reports. This quotation reflects a drop of 15 pesos from the previous close in some sources, while others indicate a slight increase of 10 pesos, consistently closing at those levels. The official retail dollar stood at 1,475 pesos at Banco Nación, with the wholesale at 1,445 pesos. Other variants included the MEP dollar at 1,477.46 pesos for selling, the contado con liquidación at 1,506.53 pesos, and the crypto at 1,501 pesos on average. The card and savings dollar quoted at 1,917.50 pesos.
The Central Bank did not intervene in the market, and net reserves fell by 1.113 million dollars, closing at 39.382 million. For the euro, the blue closed at 1,665.08 pesos for buying and 1,669.25 for selling, while the official was from 1,620 to 1,720 pesos at Banco Nación.
In the stock market, the S&P Merval rose 7.5% and surpassed 3,000,000 points for the first time, reaching 3,002,607.18 units, a nominal record in pesos following the electoral victory of La Libertad Avanza. In dollars, it climbed 6.4% to 1,993.06 points. Argentine ADRs in New York rose up to 11.8%, led by Grupo Supervielle (+12.6%). JP Morgan's country risk fell to 657 basis points, the lowest in nine months, driven by the officialist win in the October 26 legislative elections, which reshaped economic expectations.
Analysts like Damián Vlassich from IOL noted that the electoral outcome cleared political risks and will facilitate structural reforms. Dante Ruggieri from AT Inversiones estimated a 30-40% upside potential in dollars for the market in coming months.