Overview
- The BCRA’s exchange-rate corridor now adjusts monthly at the pace of inflation reported two months prior, with January guided by November’s 2.5% and applied gradually through the month.
- The reserve strategy begins with preannounced purchases of up to 5% of each day’s FX volume, supplemented by occasional block buys to avoid fueling volatility.
- For the Jan. 2 reopening, banks submitted sale quotes clustered around 1,480–1,489 pesos, with Banco Nación’s board near 1,480 pesos as the operational reference.
- The blue dollar hovered around 1,510 for buy and 1,530 for sell, while CCL and MEP traded near 1,520 and 1,480 respectively, keeping gaps to the official rate in single digits.
- Gross reserves were reported at US$41.165 billion after month-end adjustments, and local coverage points to repo-style funding being readied to meet early-January maturities.