Argentine Blue Dollar Slides to 1,420 as Bonds Rally and Merval Extends Gains
By Sofia Gabriela Martinez
Published on March 26, 2026.
Argentina's country risk fell to a two-week low after JP Morgan's EMBI spread compressed 13 points, driven by Argentine dollar bonds averaging gains across Bonares and Globales. The Merval rose to 2,805,316 after the Tuesday holiday, led by banks and energy names. Despite BCRA net reserves remaining deeply negative despite US$3.7 billion in summer purchases, Economy Minister Caputo confirmed that Argentina will not return to international debt markets in 2026 or 2027, relying on a mix of asset sales, local financing, and bilateral agreements. The Argentina blue dollar rate dropped to ARS 1,420, extending its year-to-date decline to 7.2%. The official rate fell by 0.9%. Dollar futures all traded lower by more than 1%, with the April contract settling at ARS1,412.50.
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