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18h ago

Argentina Tightens Bank FX Limits as Official Dollar Closes at 1,360 and Reserves Slip Below $40 Billion

The move targets banks’ end‑of‑month hedging that has amplified pressure on the peso.

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El equipo económico apela a más regulaciones para limitar las presiones sobre el dólar.
EL Banco Central vuelve a limitar la compra de dólares 

Overview

  • BCRA’s Communication A8311 bars banks from increasing their net negative foreign‑currency position on the last business day of each month with immediate effect.
  • From December, banks must meet FX position limits on a daily basis and any net negative cash position may not exceed 30% of their computable regulatory capital (RPC).
  • The official retail rate ended the month at ARS 1,360 at Banco Nación, with MEP and CCL near ARS 1,351–1,356 and the blue market around ARS 1,345–1,350.
  • Gross international reserves posted a sharp month‑end drop below the US$40 billion mark, with one report putting them at US$39.966 billion after a US$995 million daily fall.
  • August marked the first monthly decline in the official dollar under Javier Milei’s government, as authorities paired tighter bank rules with high‑rate peso drains and futures interventions, drawing complaints from banks.