Overview

• The official dollar ended the week at ARS 1,450 retail and ARS 1,424.50 wholesale after a roughly ARS 100 rise, staying below the band cap near ARS 1,482.
• The Treasury repeatedly sold dollars to enforce a de facto intra‑band ceiling around ARS 1,425, with market estimates of several hundred million dollars per session and roughly US$1 billion across recent days.
• Authorities reinstated a 90‑day cross‑market restriction and executed a peso‑for‑dollar‑linked debt swap that lifted the BCRA’s dollar‑linked firepower by about US$7 billion.
• Gross reserves were reported around US$42.7 billion, and Economy Minister Luis Caputo traveled to Washington as U.S. officials emphasized a potential currency swap line rather than a direct cash disbursement.
• Market moves were choppy as parallel rates eased, futures implied about ARS 1,452.5 for late October and ARS 1,565 for December, country risk hovered near 1,165, and a survey projected the official rate near ARS 1,560 and the blue near ARS 1,600 by year‑end.