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9h ago

Argentina’s Central Bank Sells $379 Million to Hold Peso at Band Ceiling as Parallel Dollars Top 1,500

Economy minister Luis Caputo vowed to sell “until the last dollar” to defend the IMF‑agreed band, a stance analysts warn could drain reserves before the October elections.

El ministro de Economía, Luis "Toto" Caputo.
El dólar vuelve a preocupar a los argentinos
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Overview

  • The BCRA sold $379 million on Sept. 18 after $53 million the day prior, totaling $432 million in two days to keep the wholesale rate at the band’s ceiling.
  • Gross international reserves fell to $39.407 billion, with the wholesale dollar closing at ARS 1,474.5 near the published upper band of ARS 1,474.83.
  • Financial and informal exchange rates set new nominal highs, with MEP and CCL above ARS 1,500 and the blue dollar around ARS 1,510.
  • Argentine assets slumped as sovereign bonds fell up to roughly 12–14%, equities dropped, and the country risk index jumped above 1,300–1,400 points.
  • The central bank began publishing daily band values, while trading volumes swelled in spot and futures markets and Caputo said upcoming debt payments would be assured.