Overview
- The Treasury renewed 57.18% of roughly 12 trillion pesos maturing this week, placing 6.867 trillion pesos and leaving about 4.5–5 trillion pesos in circulation.
- Officials frame the liquidity release as a way to restart lending and consumption in the final months of the year after a pre‑election squeeze.
- Investor demand concentrated in short‑dated fixed‑rate instruments, placement yields fell versus prior auctions, and dollar‑linked offerings drew little or no interest.
- BCRA vice president Vladimir Werning outlined a plan to begin reserve accumulation in 2026 contingent on demand‑driven remonetization, with coverage noting a roughly US$8.5 billion gap to IMF‑agreed net reserves.
- The BCRA board was expected to consider reverting reserve‑requirement computation from daily to weekly or monthly starting in November to ease liquidity pressures.