BCRA again fails to buy dollars as wholesale FX rate resumes rising
Published · Updated
What happened
Ámbito reported that the Central Bank of Argentina did not buy dollars in the official market for a third straight trading session, while the wholesale exchange rate rose again during the same session.
Why it matters
A run of zero net dollar purchases alongside a higher wholesale exchange rate can feed expectations of weaker reserve accumulation and a faster pass-through into domestic prices, import costs, and local asset pricing.
Argentine market coverage reported that the Central Bank did not purchase dollars in the official market for a third consecutive session, even as gross reserves remained above USD 50 billion. In the same session, the wholesale exchange rate resumed moving higher. The pairing matters for near-term policy because reserve accumulation is not keeping pace with the exchange-rate signal now visible to importers, price setters, and local markets.
Watch for
Banco Central de la República Argentina foreign-exchange intervention data on 2026-11-03 showing net dollar purchases or another zero/negative balance A3 Mercados wholesale dollar closing print on 2026-11-03 confirming another step-up in the official FX rate Banco Central de la República Argentina reserve stock update on 2026-11-03 showing whether gross reserves hold above USD 50 billion MAE spot FX turnover data on 2026-11-03 showing whether official-market volumes thin as the exchange rate rises
Sources
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