For the last time in 2025, the business week will not start on Monday, but on Tuesday. Argentina is experiencing the last long weekend of the year as the holiday of the Immaculate Conception of Mary is celebrated on Monday the 8th and then banks will not reopen until Tuesday the 9th.
Amid a scenario in which there was renewed tension in the Argentine foreign exchange market after a series of signals combined to raise doubts about the strength of the Central Bank and the real scope to maintain the current exchange rate strategy, the Banco Nación has already defined the value of the dollar for the beginning of the week and, with this figure as a reference, the rest of the banks have also set their price.
Confirmed price of the dollar in the Banco Nación for the opening next Tuesday, December 9th
When the week begins on December 9th in the morning, At Banco Nación, each dollar sells for $1,460Opened 15 pesos less than the previous week. In the other banks the price is:
- Galicia Bank: $1,460
- Santander Bank: $1,465
- Piano Bench: $1,470
- ICBC Bank: $1,455
- Supermuch Bench: $1,463
- Macrobank: $1,470
- Provincial Bank: $1,465
- Columbia Bank: $1,465
- BBVA Bank: $1,460
- Mortgage lender: $1,460
- Banco Ciudad de Buenos Aires: $1,470
- Patagonia Bench: $1,465
Meanwhile, the blue dollar will start the week at $1,435, while in financial dollars, the cash with settlement will sell at $1,498 and the MEP at $1,461.
The IMF points out a vulnerability: dollars are missing and goals are not being achieved
The International Monetary Fund itself made the first call for attention at its last press conference. There, spokeswoman Julie Kozack praised the decline in inflation and the improvement in social indicators, but externally turned on a red light.
Kozack reiterated that Argentina must embark on “a more ambitious path of reserve accumulation” to strengthen its stability and regain access to financial markets. The sentence was no coincidence: within the organization it was already assumed that the country would not reach the reserve target set by the end of the year, even after this need was reduced by $ 5,000 million during the first review of the program.
The IMF believes that without an adequate currency cushion, the economy is exposed to external shocks, political tensions or sudden exchange rate fluctuations. For this reason, while the organization appreciates the progress made on fiscal and monetary matters, it warns that the success of the program depends on quickly restoring the central bank’s ability to intervene when necessary.
Kozack himself avoided confirming this, but everything indicates that another waiver will be granted if the reserve target is not met. In fact, it is already expected in Washington that the Board will grant a new pardon, supported by the White House and the US Treasury Secretary.
The mystery of the barter transaction with the United States and its impact on reserves
Beyond non-compliance, there is one crucial factor that could change the outlook: the $20 billion swap agreed with the US. Part of that amount – nearly $800 million – has already been used to pay maturities on the fund itself.
It is still unclear whether this exchange can be attributed to international reserves. Asked about the issue, Kozack explained that the IMF would use its usual technical framework for analyzing instruments of this type, but avoided specifying whether the swap would ultimately be taken into account in the figures.
Without this approval, Argentina will face future destinations with fewer “reserves” than necessary, which would make it difficult to maintain the exchange program without adjustments. In addition, the Finance Minister has not yet disclosed the technical details of the agreement, complicating its formal assessment by the Fund.
There is speculation in the market that even if the swap is partially recognized, the relief would only be temporary as the country needs real dollars to maintain stability. And right now, those dollars aren’t arriving at the pace expected.