Overview
- Finance Ministry rolled over 57.18% of October maturities, injecting roughly 5 trillion pesos that are helping push short-term pesos rates lower.
- The central bank shifted encaje calculation back to a monthly basis with a 95% daily floor starting in November, a modest move aimed at reducing rate volatility.
- Official retail dollar closed around 1,465 pesos at Banco Nación with the wholesale at about 1,438, while MEP and CCL held near 1,470–1,485 and futures pricing eased.
- After a sharp early-week surge, Argentine ADRs paused, but sovereign bonds advanced further with some global issues yielding below 10% and country risk near 666–700 bps.
- Officials reaffirm a float-within-bands exchange regime and signal reserve rebuilding via BCRA dollar purchases, as analysts stress the need for sustained reserve accumulation; U.S. Treasury’s Scott Bessent publicly voiced support for the program.