With labor reform and strong absorption of pesos, the exchange rate keeps easing
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The official wholesale dollar deepened its downward trend and broke through 1,400 pesos this Thursday, closing at around 1,395 pesos, its lowest value since November 17, 2025. With this new drop, the currency has accumulated six consecutive sessions of declines and a 3.6% decrease in less than a week, consolidating a scenario of greater exchange-rate stability.
The decline occurred after the initial approval in the Senate of the labor reform promoted by the Government and after a Treasury auction that reached a 123% rollover in the first peso-denominated debt placement of February. The result made it possible to absorb liquidity from the market and reduce pressure on the exchange rate, in line with the official strategy of draining pesos to avoid abrupt moves toward the dollar.
Banco Central de la República Argentina.
In the retail segment, the exchange rate also fell. At Banco Nación, it closed at 1,415 pesos, with a 5-peso drop during the session. According to the Central Bank's daily average, the rate stood at 1,420.27 pesos. This way, the official rate widened its distance from the upper bound of the exchange-rate band, which this Thursday stood at 1,583.39 pesos, remaining almost 14% below that limit.
In contrast, the informal market showed a different behavior. The blue dollar rose for the second consecutive day and traded at around 1,440 pesos, with a 5-peso increase compared with the previous session. In the financial segment, the MEP traded near 1,436 pesos, while the contado con liquidación fell back toward the 1,452-peso area. The crypto dollar, meanwhile, stood at around 1,461 pesos.
The exchange-rate movement occurred in parallel with an increasingly solid buying streak by the Central Bank. The monetary authority added 141 million dollars this Thursday and thus chained together 29 consecutive sessions with a positive balance in the Single Free Exchange Market.
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In that period, purchases total 2.047 billion dollars and, so far in 2026, the cumulative amount already exceeds 2 billion dollars, equivalent to more than 20% of the annual target for reserve accumulation. The stock of international reserves currently stands at around 45.056 billion dollars, despite a specific daily drop of 251 million dollars.
With the official rate at its lowest in almost three months and reserves recovering, the Government is consolidating a period of exchange-rate calm that contrasts with the instability of previous years.
