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Argentina’s Dollar Closes at $1,465 as Liquidity Rises and Reserves Slip

A partial debt rollover left roughly 5 trillion pesos in circulation, focusing investors on how the central bank will rebuild reserves.

Overview

  • Banco Nación’s retail dollar finished at $1,465, the wholesale reference closed near $1,438, and the blue ended around $1,455.
  • The Treasury’s second October auction rolled over 57.18% and adjudicated $6.867 trillion, leaving about 5 trillion pesos in the market.
  • Gross international reserves fell by $270 million to about $40.5 billion, renewing attention on plans for reserve accumulation.
  • Equities and bonds largely held a post‑election rally even as some gains paused, with country risk reported near 673 basis points by J.P. Morgan.
  • Financial dollars eased (MEP and CCL down modestly) and local deposit rates fell again, reinforcing a calmer tape as markets watch the BCRA’s next FX steps.