Overview

• Treasury interventions estimated at about US$400 million over three sessions kept the wholesale dollar around ARS 1,362–1,365 and the retail near ARS 1,375.
• Central bank data show Treasury dollar deposits fell US$238 million on Tuesday to US$1.431 billion, with roughly US$40 million used for a World Bank payment, implying near US$200 million in first‑day sales.
• BCRA gross reserves declined by about US$208 million to roughly US$40.635 billion as officials defended liquidity at the new de facto ceiling identified by traders near ARS 1,362.
• Argentina’s risk premium pushed above 900 basis points while bonds and equities showed mixed moves, and futures pricing implies further peso depreciation by year‑end.
• The government says the IMF backs the approach, economists caution about limited firepower and inflation trade‑offs, and some banks lifted fixed‑term deposit rates up to 55% TNA.