Overview

• The BCRA sold US$678 million on Friday, bringing three days of interventions to roughly US$1.1 billion, the heaviest weekly defense since the band regime began.
• The wholesale rate closed at the band’s ceiling near AR$1,475, while Banco Nación’s retail dollar set a record at AR$1,515.
• Economy Minister Luis Caputo reaffirmed the strategy, saying the government will sell “to the last dollar” at the ceiling and insisting reserves are sufficient.
• Authorities imposed new FX limits on directors, managers and major shareholders of banks and financial firms to deter cross‑market arbitrage via MEP and CCL.
• Dollar bonds slumped this week and the risk premium topped 1,400 basis points before a modest rebound, as analysts flagged sustainability risks and looming external maturities.