The official dollar rose 3.7% in the first week of July, reaching a record value.

The retail dollar rose 15 pesos this Friday and was sold at Banco Nación at $1,260 , a new record at the end of the week.

In four days, the US currency soared 45 pesos , or 3.7%, and for the year it has risen 20%, already surpassing inflation in the first half of the year, which was estimated to be around 16%.

The wholesale dollar rose 0.8% on the day and 3.2% so far this month, bringing it to $1,240, closing out a week that saw it reach its highest level since the currency controls were eased.

Meanwhile, the retail dollar at the average of banks reported by the Central Bank (BCRA) stood at $1,214.86 for purchases and $1,260.36 for sales . It exceeded $1,260 in some institutions and had a maximum price of $1,270 for sales at Banco Macro, both over the counter and online.

Meanwhile, the official dollar closed at $1,210 for buying and $1,260 for selling according to Banco Nación, up $15 from yesterday's close.

In financial exchange rates, the MEP advanced 0.7% to $1,246.92 and the CCL rose 0.6% to $1,249.12.

Blue Dollar, small vendors selling dollars on San Martin Street in front of the Tonsa Gallery. Photo: Ignacio Blanco / Los Andes

The blue dollar , meanwhile, was trading this afternoon at $1,210 for purchase and $1,230 for sale , down 0.41% on the day.

Thus, the blue dollar remained at $1,230, increasingly below the retail price.

In the foreign exchange market, reports indicate that the currency's rise was fueled after the Minister of Economy issued an open challenge on Tuesday to economists who have been warning about the risks of exchange rate lag.

"If you think it's cheap, buy it, champion," the Minister of Economy had teased at a meeting at the Austral University, before an audience of more than 600 business executives at the IAE 2025 Summit.

This week saw a steady rise in the dollar. Thus, it surpassed the midpoint of the floating band established by the government to allow the exchange rate to fluctuate freely within a predefined range, in this case between $1,000 and $1,400.

In the coming weeks, foreign currency is expected to arrive from the settlement of transactions closed by agricultural exporters in late June, before the soybean and corn rates were reinstated on July 1 following the temporary reduction in withholdings ordered by the government.