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1h ago

Argentina Caps Official Dollar With Treasury Sales as Caputo Seeks U.S. Swap Support

Markets steadied after IMF chief Kristalina Georgieva signaled coordination with the U.S.

Scott Bessent, secretario del Tesoro de EE.UU, presenta el previo "Global Citizen" al presidente de Argentina, Javier Milei, en Nueva York. (AP / Stefan Jeremiah)
Soybeans are loaded into a grain cart from a combine harvester during a harvest at a farm outside St. Peter, Minnesota, US, on Tuesday, Sept. 30, 2025. US President Donald Trump said he would confront Chinese President Xi Jinping over Beijing’s refusal to purchase American soybeans, a growing area of tension between the world’s two largest economies. Photographer: Ben Brewer/Bloomberg soja cosecha
Cosecha de soja
El tipo de cambio operó en terreno negativo el viernes, debido al debilitamiento del dólar

Overview

  • The Treasury enforced an informal intra‑band ceiling near ARS 1,425 in the wholesale market, with traders estimating roughly US$1 billion in dollar sales over three sessions.
  • Economy Minister Luis Caputo traveled to Washington for talks with U.S. Treasury Secretary Scott Bessent, who said any assistance would be a currency swap rather than a direct cash disbursement.
  • Parallel rates eased, with the blue dollar falling to ARS 1,440 and briefly trading below the official retail quote of ARS 1,450 at Banco Nación.
  • Reserves rose by about US$467 million to roughly US$42.698 billion as authorities executed a debt swap that shifted dollar‑linked instruments to the central bank to bolster intervention capacity.
  • Government cross‑restrictions barring switches between official and financial dollars for 90 days remained in place, while global bonds gained up to about 5% and country risk fell to around 1,165 basis points.