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54m ago

Argentina’s Dollar Eases Within Bands as Central Bank Reserves Tick Up

The government frames the bands as a stability anchor to rebuild confidence.

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Otra vez el dólar oficial y el blue coincidieron en el mismo precio de venta, tras una baja de $5.
Mercado positivo con el dólar en calma

Overview

  • The official dollar at Banco Nación fell to ARS 1,435 and the wholesale rate closed at ARS 1,412, moving further from the band ceiling of ARS 1,501.99.
  • Financial and parallel quotes softened or held steady, with MEP near ARS 1,451, CCL around ARS 1,472–1,475, the blue at ARS 1,415–1,435, and the crypto dollar near ARS 1,472.
  • BCRA reported a third straight increase in gross reserves, up USD 172 million to USD 40.669 billion, and market sources said the Treasury purchased USD 64 million earlier this week as an early test of the new scheme.
  • Economy Minister Luis Caputo defended the band system as a way to avoid sharp swings, and BCRA vice president Vladímir Werning said remaining currency curbs will be lifted soon, while Domingo Cavallo questioned the reserve buffer to defend the band ceiling.
  • Local equities advanced with the S&P Merval up 0.9% in pesos (0.8% in dollars), sovereign bonds traded mixed, and JP Morgan’s country risk closed around 605 basis points.