Overview

• BCRA data show a net private-sector balance of minus US$3.188 billion in August, with 1.5 million individuals buying US$2.422 billion and 840,000 selling US$562 million.
• The services account registered a US$840 million deficit driven mainly by card and travel spending abroad of about US$690 million, while the goods surplus narrowed on weaker export liquidation.
• International reserves rose US$1.12 billion to roughly US$39.99 billion, largely from a US$2.073 billion IMF disbursement, offset by interest payments to the IMF and Treasury FX sales.
• A significant portion of purchased dollars left the system, as private foreign-currency deposits fell about US$281 million and 53.1% of external asset formation was credited to accounts abroad.
• Ámbito reported the BCRA reinstated a “restricción cruzada” that makes official-dollar buyers pledge not to sell MEP or CCL for three months to deter cross-market arbitrage.