Overview

• Banco Central gross reserves rose USD 1.889 billion on Sept. 26 to USD 41.238 billion, the highest level since late August.
• Traders attributed the move to large private block purchases of dollars by the Treasury, with no multilateral disbursements or valuation effects cited.
• The inflow followed record filings and sales by agricultural exporters after export duties were set to zero from Sept. 23, with a USD 7 billion program cap reached in two business days.
• Official data show exporters sold 19.6 million tonnes valued at just over USD 7.012 billion, 71% from the soy complex.
• The surge restored roughly USD 1.11 billion the Central Bank had sold the prior week to defend the exchange‑rate band, as the Treasury also raised ARS 7.34 trillion with 54.6% placed in dollar‑linked Lelink.