Overview

• The BCRA’s Communication A 8311 bans banks from increasing their net negative foreign‑exchange position on the last business day of each month, with daily compliance and a 30% of RPC cap on negative cash positions taking effect in December.
• The official dollar closed Friday at $1,360 for sale at Banco Nación, leaving August down about 1.1% month over month, while the wholesale rate ended near $1,342 after a roughly 2.3% monthly decline.
• Parallel and financial rates showed mixed but tight spreads, with the blue around $1,345 and the MEP and CCL near $1,351 and $1,356 after volatile sessions.
• Reserves fell sharply into month‑end, with a reported $292 million drop Thursday to $40.961 billion and a further $995 million decline Friday to $39.966 billion, marking the weakest week in months.
• Authorities also tightened liquidity through higher wholesale deposit rates, encaje changes and debt operations as equities and sovereign bonds slipped and risk country hovered near 837 points.