Overview

• Banks and brokerages began enforcing Communication A 8336 on Monday, requiring a 90-day gap between buying at the official rate and transacting in MEP or CCL.
• Reference quotes: Banco Nación at $1,300/$1,350, blue at $1,420/$1,440, MEP around $1,433 and CCL roughly $1,470–$1,476, with the wholesale near $1,326–$1,335.
• FX spreads widened and financial dollars rose, leaving the gap between the wholesale and CCL near 10–11% as markets adjusted to the curb on arbitrage.
• Gross international reserves are about US$41.238 billion after roughly US$1.35 billion in Treasury block purchases of agro proceeds last week.
• Local assets came under pressure with sovereign bonds lower and JPMorgan’s country risk near 1,088 points, while weekend crypto quotes for USDT ran above the blue rate.