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3h ago

Argentina Holds Peso Line With Treasury Sales as Blue Dollar Falls Below Official Rate

Investors are focused on Luis Caputo’s Washington meetings on a US$20 billion US swap that officials present as the main backstop before the October 26 vote.

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

  • Banco Nación’s dollar closed stable for a second session at ARS 1,400/1,450 after a weekly rise of about ARS 100, or 7.4%.
  • The Treasury set an intra‑band cap near ARS 1,425 and, according to market desks, placed roughly US$200 million to keep the wholesale rate at ARS 1,424.50.
  • The blue dollar finished at ARS 1,420/1,440, slipping below the retail official quote, while MEP hovered near ARS 1,499 and CCL around ARS 1,526 with gaps under 8%.
  • BCRA gross reserves increased by about US$467 million to US$42.698 billion, the highest since August.
  • The government reinstated a 90‑day cross‑restriction between official FX buyers and financial‑dollar transactions, and Argentine assets showed selective rebounds as markets await clarity on US support.