Overview
- After brushing the ceiling last week, the wholesale dollar fell to roughly ARS 1,412–1,413 on Tuesday, keeping a gap of about ARS 80–90 to the band’s ARS 1,501 top.
- Market sources said Argentina’s Treasury bought USD 64 million at ARS 1,430 as a first post‑election test, coinciding with a rise in Treasury deposits at the central bank.
- U.S. Treasury Secretary Scott Bessent confirmed Argentina tapped a portion of the swap; specific terms were not disclosed, and private estimates place related operations in a USD 2.1–2.7 billion range.
- Gross reserves rose USD 95 million to USD 40.497 billion, while bonds and stocks advanced and the country risk gauge stayed below 600 basis points.
- Caputo ruled out a free float, signaled a possible move to a 1.5% monthly crawl, and promised a detailed program within 30 days, even as questions linger over net reserves and confidential deal conditions.