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10h ago

Argentina Tightens Bank FX Limits as Peso Ends Month at 1,360 and Reserves Drop

A new central bank rule blocks last‑day dollar position increases to cool month‑end demand.

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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

  • Communication A 8311 bars banks from increasing their net foreign‑currency position on the last business day immediately and, from December, enforces daily limits with a cap of 30% of RPC on negative positions.
  • The official Banco Nación rate closed at ARS 1,320/1,360 after an intraday rebound, while the blue and financial dollars hovered near ARS 1,345–1,356.
  • Gross international reserves fell about US$995 million to US$39.966 billion in the final session of the month, with a weekly decline of roughly US$1.53 billion.
  • Despite Friday’s uptick, August marked the first monthly drop in the official dollar under Javier Milei, with the retail rate down about 1.1% and the wholesale rate near ARS 1,342.
  • Equities and sovereign bonds extended losses, with the S&P Merval down roughly 14% in August and several ADRs lower, as authorities leaned on high‑yield peso debt, reserve‑requirement hikes and other liquidity drains.