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Argentina Caps Banks’ Month-End Dollar Positions as Official Rate Rebounds to $1,360

The measure aims to curb month‑end demand following a brief respite from a successful debt rollover.

Overview

  • Banco Nación’s retail dollar closed at $1,360, up $15 on the day, with the wholesale rate near $1,342 and the blue at about $1,345.
  • Financial dollars hovered in the mid‑$1,300s, with MEP and CCL trading close to the official rate and maintaining very narrow gaps.
  • The Central Bank barred banks from increasing their daily spot foreign‑currency position on the last business day of the month to restrain demand.
  • International reserves stood around US$40.961 billion after a US$292 million decline previously attributed in part to a Buenos Aires Province bond payment.
  • The Treasury’s latest auction achieved a 114.66% rollover of maturities, but market volatility persisted with country risk near 837 basis points.