Overview

• Finance Secretary Pablo Quirno said the Treasury would sell dollars in the spot market to support liquidity, a step officials said was communicated to the IMF.
• The official dollar closed at $1,375 at Banco Nación after the announcement, the wholesale rate hovered near $1,361, and the blue rate settled in the mid‑$1,300s.
• Market reports pointed to initial sales of roughly US$100–200 million routed via Treasury/BCRA balances, with central bank gross reserves around US$40.8 billion.
• Officials asserted the banded regime remains in place even as the policy signaled a more managed approach, with the stated goal of smoothing liquidity rather than targeting a level.
• Risk gauges deteriorated, with riesgo país near 900 bps and mixed moves in bonds and equities, as economists warned the intervention is costly and could strain credibility around the elections.