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Argentina Central Bank Steps Up Dollar Buying, Lifts Reported Reserves Above $44 Billion

Investors are watching how the government secures roughly $4.2 billion due Jan. 9 as reports point to Treasury spot sales and possible bank repo funding.

Overview

  • The central bank purchased $83 million on Tuesday after $21 million on Monday, totaling about $104 million and taking gross reserves to $44.187 billion under a plan that limits daily buys to roughly 5% of market volume.
  • Operating within the new inflation‑indexed band, the wholesale dollar eased to roughly $1,466–$1,468 and the Banco Nación retail quote closed at $1,490, a few percent below the band ceiling near $1,534.
  • Market desks reported Treasury dollar sales to restrain the wholesale rate as trading volume jumped to about $573 million, while estimates continue to flag weak or negative net reserves.
  • Parallel and financial exchange rates showed mixed moves, with the blue at $1,520, MEP near $1,496 and CCL around $1,535.
  • Country risk hovered in the mid‑500s after rising to about 566 bps on Monday, Treasury dollar deposits were cited near $1.963 billion, and an Economy Ministry adviser said the central bank’s new purchases will not fund the Jan. 9 payment.