Overview

• The BCRA sold about US$678 million on Friday, its third straight intervention, keeping the wholesale rate at ARS 1,475 at the ceiling of the managed band.
• Total sales for the week reached roughly US$1.11 billion after earlier moves of US$53 million and US$379 million, with reserves reported near US$39.4 billion after Thursday’s operation.
• The retail dollar at Banco Nación closed at ARS 1,515, a nominal record, while MEP and CCL hovered around ARS 1,540–1,560 and the blue ended near ARS 1,520.
• Following steep losses of up to 13.4% in dollar bonds and a jump in country risk above 1,400 basis points, sovereigns saw a modest rebound on Friday but risk remained high.
• Economy Minister Luis Caputo vowed to “sell until the last dollar” at the band ceiling, as the BCRA tightened rules on directors and major shareholders of financial firms to curb cross‑market arbitrage.