Overview
- Buenos Aires stocks jumped as the S&P Merval rose up to 8% and topped 3 million points in nominal terms, with Argentine ADRs advancing on Wall Street.
- JP Morgan’s country risk gauge fell to about 647 basis points, the lowest since early February, as sovereign bonds extended gains.
- The official dollar at Banco Nación closed at $1,425 for purchase and $1,475 for sale, while the blue hovered around $1,445–$1,450 and financial rates held near $1,479 (MEP) and $1,498–$1,500 (CCL).
- The Central Bank’s Communication A8350 takes effect November 1, shifting reserve requirement calculations to a monthly basis with a 95% daily maintenance rule to reduce rate volatility.
- Officials said the Central Bank is positioned to rebuild reserves, and local coverage recapped October’s unusual U.S. involvement during currency tensions.