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45m ago

Argentina Holds Official Dollar Near Band Cap as Blue Falls Below Banco Nación

Officials aim to preserve a pre‑election lull through targeted interventions with potential U.S. swap support as a backstop.

El tipo de cambio operó en terreno negativo el viernes, debido al debilitamiento del dólar
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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Overview

  • The Banco Nación rate closed unchanged at ARS 1,400/1,450, capping a weekly rise of about ARS 100, or 7.4%.
  • Treasury sales set a de facto intra‑band ceiling around ARS 1,425 in the wholesale market, with traders reporting an order near US$200 million.
  • The blue dollar fell to roughly ARS 1,420/1,440, slipping below the retail quote, while MEP and CCL eased and left spreads under 8%.
  • Gross reserves climbed by about US$467 million to roughly US$42.7 billion, reinforcing the authorities’ defensive toolkit.
  • Economy Minister Luis Caputo traveled to Washington to meet Scott Bessent as the U.S. side confirms negotiations for a US$20 billion currency swap.