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6h ago

Argentina Tightens Bank FX Limits as Reserves Slide and Official Dollar Nears 1,361

The central bank says the new curbs aim to mute month‑end dollar demand, restoring intervention space.

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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 took effect with an immediate ban on banks increasing their net negative foreign‑currency position on the last business day of each month.
  • From December, banks’ negative net FX position will be capped at 30% of computable regulatory capital with daily compliance required, limiting carry trades and FX risk.
  • Gross reserves fell about US$995 million on Friday to roughly US$39.97 billion, with officials linking the drop to routine end‑month flows.
  • The official retail dollar averaged ARS 1,319.02/1,361.42 (buy/sell) and Banco Nación closed at ARS 1,320/1,360, while blue, MEP and CCL hovered near those levels with narrow spreads.
  • Stocks and sovereign bonds weakened and the risk premium was reported around the mid‑800s as August closed with the official dollar down about 1.1% month over month and the wholesale rate at ARS 1,342.