Overview

• The wholesale peso strengthened to roughly ARS 1,350–1,369, the Banco Nación rate fell to ARS 1,375, and parallel and financial dollars (blue, MEP, CCL) also retreated.
• Argentine sovereign bonds and several ADRs rose around 2%–5%, pushing the JP Morgan country risk index down to about 1,000 basis points.
• The rebound followed a decree that temporarily cuts export duties on grains and oilseeds to zero through October 31 to spur dollar liquidations, with initial reported grain sales jumping but only USD 21.4 million liquidated on Monday.
• U.S. Treasury Secretary Scott Bessent signaled readiness to support Argentina within the Treasury’s mandate, and President Donald Trump publicly endorsed Javier Milei after their meeting.
• Dollar futures dropped up to roughly 6%, yet pricing still suggests a weaker peso toward year-end near ARS 1,455–1,502, underscoring persistent skepticism about the outlook.