Wholesale Dollar Remains at 1514 After Two-Week Highs

The wholesale dollar closed this Thursday at 1514, its highest level in two weeks, and remains stable after two consecutive days of increases. The retail exchange rate operates at Banco Nación at 1535, while the average of the BCRA is also at 1535. The blue dollar is at 1540. In the financial market, the MEP falls to 1531.08 and the CCL remains at 1591.49. This Thursday, the inflation data for August is expected to be published by INDEC, with a projected CPI of 1.7% monthly according to the latest Market Expectations Survey (REM) from the Central Bank. Inflation is expected to remain below 2% monthly, with projections of 1.8% in September, 1.7% in October, 1.6% in November, and 1.8% in December. The REM projects a nominal annual TAMAR of 24.11% for private banks in September, equivalent to an effective monthly rate of 1.98%. For December, a nominal annual TAMAR of 23.45% is expected, with an effective monthly rate of 1.93%. The inflation for August will be key to evaluating the performance of investments in pesos. The median of the REM estimates places the dollar at 1530 for September, 1565 in October, and 1600 in November, reaching an average of 1630 in December, with a year-on-year variation of 12.6%. For 2026, a cumulative increase of around 30% in inflation is projected.

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