Overview

• Banco Nación opened Tuesday selling at ARS 1,370 and the Central Bank’s daily retail average was ARS 1,367.98, with bank quotes ranging from ARS 1,360 (Galicia) to ARS 1,377 (ICBC).
• Parallel and financial rates showed dispersion: blue traded near ARS 1,365 in Buenos Aires and ARS 1,379 in Córdoba, MEP hovered around ARS 1,358.50/1,362, CCL at ARS 1,358.70/1,360.30, cripto at ARS 1,365.40/1,372, and tarjeta/ahorro near ARS 1,781.
• After leaked-audio accusations against government officials, the official dollar rose 2.6% on Monday to ARS 1,370, the wholesale rate closed at ARS 1,362, the S&P Merval fell about 4% in pesos, ADRs dropped up to 10%, and dollar bonds slid as much as 4%.
• Country risk reached its highest level in four months as investors reassessed political risk, with local coverage noting pressure heading into Buenos Aires provincial legislative elections in two weeks.
• Economy Minister Luis Caputo called high interest rates transitory in the face of electoral uncertainty, and the Treasury plans sales of Lecaps, dollar-linked instruments and Tamar bonds to absorb pesos.