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One Million Argentines Buy Back Dollars in Banks After Partial Elimination of the Stocks

Summary by Bloomberg Linea
More than a million Argentines bought back dollars in the banks after the partial elimination of exchange controls. After Javier Milei’s government lifted in mid-April the barriers for people to access foreign exchange in the official exchange market, the Argentine Central Bank revealed that the demand for foreign exchange in the entities during the last month was the highest in five years. According to the monetary authority this Friday through…
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Last Friday the situation worsened, to such an extent that the crypto dollars experienced a strong rise, being placed in 1,209 and 1,226 pesos for the purchase and sale respectively. The rest of the dollars followed it, and even the official (Banco de la Nación Argentina) was placed in most of the day at 1,215 pesos, to close at 1,200 pesos, with a strong official intervention. The CCL made a significant leap, reaching 1,204 pesos and the Future…

The international reserves of the Central Bank of the Argentine Republic (BCRA) closed May with a monthly loss of US$ 2,074 million, which represents a decrease of 5.33% from the level of closure of April. According to Noticias Argentinas, the provisional balance was located at US$ 36,854 million, and the consolidated data will be disseminated on Tuesday, June 3. The fall occurs only weeks after President Javier Milei announced in national chain…

The international reserves of the Central Bank of the Argentine Republic (BCRA) closed May with a monthly loss of US$2,074 million, representing a 5.33% decrease from the closing level of April. The provisional balance was US$36,854 million, and the consolidated data will be released on Tuesday, June 3. The fall occurs only weeks after President Javier Milei announced on national chain that by May the gross reserves of the entity would reach US$…

In April 2025, the first full month without currency exchange since September 2019, the Argentine savers bought dollars to a total of 2,048 million, in a context marked by the flexibility of the foreign exchange market ordered by the Government of Javier Milei. The measure, announced on April 14, allowed unrestricted access to the official foreign exchange market after more than five years of restrictions. According to the report on the Exchange…

The release of the exchange rate quota last April 14th generated an explosion in the purchase of dollars by savers, with figures that were not seen since 2019. According to the exchange balance published by the Central Bank (BCRA), in the first 11 business days without restrictions, the gross purchases of banknotes reached US$2,048 million, a number significantly higher than the US$6 million purchased in March, when the exchange rate was still r…

The data at the end of the fourth month showed that retailers took advantage of the first two weeks without restrictions to re-purchase foreign exchange in the financial sector. The opening of the foreign exchange market for savers after more than 5 years generated a flood of dollar purchases in banks. The release began [...]

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El Cronista broke the news in Argentina on Friday, May 30, 2025.
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