Argentina

Argentina’s monthly index of economic activity declined by 0.3% MoM in June, indicating a pause in economic recovery after May’s brief uplift. Meanwhile, Argentina’s central bank bought USD 80 mln in the official FX market, totaling USD 527mln for the month, reflecting a decrease in private FX demand after significant increases in June and July. This trend suggests lower market activity, with daily central bank purchases surpassing USD 50 mln for three consecutive days.