Overview

• The Central Bank’s Comunicación A 8336 now requires anyone buying dollars at the official rate to refrain from MEP or CCL operations for 90 days, aiming to shut the ‘rulo’ arbitrage.
• The Treasury bought about US$500 million on Monday and roughly US$1.9 billion since Friday from an exceptional farm export liquidation that reached as much as US$7 billion.
• Gross reserves rose US$1.889 billion last week to US$41.238 billion, then fell US$116 million on Monday to US$41.122 billion after US$334 million in public‑sector payments, including US$116 million to the Paris Club, US$65 million to the IDB and US$97 million to CAF.
• By the close, the wholesale dollar was $1,360 and Banco Nación’s rate was $1,380, while the MEP reached about $1,455, the CCL about $1,496 and the blue held at $1,430, with futures repricing weaker and the brecha near 8–10%.
• Argentine sovereign bonds mostly fell and the country risk rose to 1,124 basis points as analysts warned the restriction is widening the official‑to‑financial spread and could channel demand toward the informal market.