Argentina's Dollar and Blue Dollar Rates Hold Steady; May Inflation Slows to 2.1%

Argentina's currency markets saw no movement on Saturday, June 20, with both the official and blue-market dollar rates holding steady at their Friday closing figures. The official dollar was quoted at 1430 Argentine pesos for buying and 1480 for selling at the Banco Nación. Concurrently, the informal or blue-dollar market saw rates of 1435.60 pesos for buying and 1480 for selling.

Financial dollar rates, encompassing the MEP (dollar Bolsa) and CCL (contado con liquidación), also maintained their previous business day's closing values. These rates are determined through stock market mechanisms involving the sale of bonds and shares.

In economic news, Argentina's inflation continued its downward trend, registering 2.1% in May. This marks the second consecutive month of deceleration following a difficult period for prices. While this figure was better than market expectations, it did not break the 2% monthly threshold.

The cumulative inflation for the first five months of the year reached 14.7%. The year-on-year inflation rate saw a slight increase, moving from 32.4% to 33.2%. Core inflation also dropped below 2%, settling at 1.9%, a decrease of four-tenths of a percentage point from April's 2.3%.