Argentina Markets: Merval & the Peso — August 15, 2026
Argentina's Merval fell below the 3 million mark on August 14, closing at 2,947,349, while the peso held near 1,488 per dollar amid profit-taking. The post Argentina Markets: Merval & the Peso — August 15, 2026 appeared first on The Rio Times .
Argentina's S&P Merval index slipped 1.77% to 2,947,349 points on August 15, 2026, retracting the 3 million level it had reached earlier in the week. Financial institutions suffered the most, with Banco Macro down 3.8%, Grupo Galicia falling 3.5%, and Banco BBVA and Supervielle each losing 4.3%. Despite the pullback, the peso showed minimal movement, weakening by just 0.28% to 1,488 per US dollar, as the central bank bought foreign currency reserves worth around US$80 million.
The market's reaction indicated that the recent rally driven by President Javier Milei's reform agenda was cooling down, with investors taking profits on the rally. The index remained around 30% higher over the past 12 months, suggesting the underlying bullish case had not been shattered. However, the increase in country risk, reaching around 480 basis points, highlighted that investors were seeking more evidence of reform progress before committing further.
The Merval's 12-month gain of roughly 30% and the peso's stability near 1,488 per dollar suggested that the reform narrative was still intact. Nonetheless, the index's failure to quickly reclaim the 3 million mark might signal growing doubts about the Milei trade's progress.
Written by urgent.news from The Rio Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
