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1h ago

Argentina Tightens Bank FX Rules as Dollar Closes Near 1,361 and Reserves Fall Below $40 Billion

New central bank limits on banks’ FX positions target end‑month dollar 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

  • The Banco Central issued Comunicación A8311, immediately banning banks from increasing their net negative FX position on the month’s last business day and, from December, requiring daily compliance with limits and capping that position at 30% of RPC.
  • The official dollar averaged $1,319 for purchase and $1,361 for sale, with the blue at $1,350 and financial rates (MEP/CCL) clustered near $1,348–$1,355, reflecting narrow spreads across markets.
  • Gross international reserves dropped $995 million on Friday to $39.966 billion, breaking below the $40 billion mark after end‑month outflows that officials said should reverse after the U.S. holiday.
  • August delivered the first monthly decline in the official exchange rate under Javier Milei’s government, even as the final session saw an intraday rebound that lifted the Banco Nación close to $1,360.
  • Wholesale peso rates rose, with the TAMAR TNA moving to 66.13%, and country risk hovered near 837–853 basis points as traders navigated heightened volatility ahead of upcoming elections.