Overview
- The Central Bank resumed net dollar purchases, buying $21 million on Jan. 5 and $83 million on Jan. 6 under a program capped at roughly 5% of daily market volume with a 2026 reserve‑build target near $10 billion.
- Gross international reserves rose to about $44.187 billion, the highest since early 2023, boosted by a $700 million hydroelectric concession payment and the Central Bank’s market buys.
- Media reported a $3 billion repo at a 7.4% rate was announced/closed to bolster foreign currency funding ahead of the Jan. 9 maturity, helping to calm risk gauges and support bonds.
- Treasury deposits were around $1.96 billion as of late December, leaving a gap to meet the roughly $4.2 billion due on Friday, and an Economy Ministry adviser said Central Bank purchases will not be used for that payment.
- Market participants said the Treasury sold dollars in the official market to keep the wholesale rate below the upper limit of the new inflation‑indexed band, with the wholesale dollar near 1,467.50 pesos and the risk index easing to the mid‑550s after the repo news.