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2h ago

Argentina Defends Peso at 1,425 With Heavy Dollar Sales as Caputo Seeks US Support

Talks in Washington include a potential $20 billion swap to shore up reserves before the Oct. 26 elections.

El dólar mayorista finalizó por debajo de la línea de intervención planteada por el BCRA por cuenta y orden del Tesoro.
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El equipo económico enfrenta un mes complicado por vencimientos en pesos y las elecciones.

Overview

  • Banco Nación held the official dollar at 1,400/1,450 while the wholesale rate closed near 1,424.5 under a Treasury-set intra-band ceiling around 1,425.
  • Market estimates indicate roughly USD 1 billion was sold across recent sessions, with Treasury/BCRA using spot, futures and bond operations to cap the rate.
  • The blue dollar fell for a second day to about 1,420/1,440, slipping below the official retail quote as MEP and CCL narrowed with breakeven gaps under 8%.
  • Gross reserves rose USD 467 million to about USD 42.698 billion, sovereign bonds rebounded and country risk eased to roughly 1,165 basis points.
  • Authorities reinstated a 90-day separation between official and financial dollar operations, and the IMF signaled US backing discussions including use of US SDR holdings as Caputo meets Treasury Secretary Scott Bessent.