Overview
- The central bank bought USD 21 million in the MULC, its first purchase in nine months, lifting gross reserves to about USD 43.4 billion under a rule capping daily buys at roughly 5% of turnover.
- The wholesale dollar slipped to ARS 1,470 with the new ceiling near ARS 1,534, and several trading desks reported Treasury dollar sales to keep the rate from the top of the band.
- Banco Nación’s retail quote held at ARS 1,495, the blue eased to ARS 1,515, and financial dollars hovered above ARS 1,500 (MEP near ARS 1,501; CCL around ARS 1,541–1,544).
- Despite higher gross holdings, net reserves remain strained, with estimates near USD 1.78 billion on one gauge and roughly negative USD 2.5 billion on another.
- Focus shifts to an estimated USD 4.2 billion outflow due Jan. 9, with reports pointing to a REPO with international banks in the USD 1.3–2.0 billion range and dollar-linked swaps, and an Economy adviser said BCRA purchases will not fund the payment.