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Argentina Defends Peso With Treasury Dollar Sales as Parallel Rates Jump

The government is holding the wholesale rate near 1,430 pesos inside the central bank’s band by drawing down Treasury foreign‑currency deposits, a strategy that is straining limited buffers even as reported reserves hover near $42.6 billion.

Overview

  • Market estimates indicate the Treasury sold roughly $1.35–$1.4 billion across the past four sessions, leaving its dollar deposits at the central bank below $1 billion.
  • Screens showed the official posture defending an intraband ceiling near 1,430 pesos, with the wholesale rate closing around 1,429.75 and the Banco Nación retail price steady at 1,455.
  • Financial exchange rates climbed, with the MEP near 1,525 pesos and the CCL around 1,553, widening gaps with the wholesale rate to roughly 7–9 percent.
  • The blue dollar rose to 1,460 pesos, moving above the official retail rate and marking its widest discount to the MEP in months, according to traders.
  • Argentine bonds fell up to about 2% and local equities weakened, while regional risk was compounded by the U.S. government shutdown; the Mexican peso softened to roughly 18.39 per dollar.