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Argentina Reinstates 90‑Day FX Cross‑Restriction as Reserves Jump and Dollar Gaps Widen

Treasury block buys of agro dollars lifted reported reserves, leaving financial and informal rates elevated into Monday’s reopening.

Overview

  • The BCRA’s Communication A 8336 reimposes a 90‑day bilateral bar between buying at the official rate and operating in MEP or CCL, and vice versa.
  • With markets shut over the weekend, reference closes were Banco Nación at $1,300/$1,350, MEP around $1,423–$1,433 and CCL around $1,466–$1,472.
  • The blue dollar closed near $1,440 in Buenos Aires and about $1,455 in Córdoba, underscoring regional dispersion in informal pricing.
  • Gross reserves were reported up about US$1,889 million to roughly US$41.24 billion after Treasury purchases of around US$1,345 million from agro exporters.
  • Stablecoin quotes offered a continuous signal with USDT on Binance near $1,468 on Sunday, and analysts warned that reduced arbitrage liquidity could heighten volatility on reopening.