Overview

• The central bank imposed a 90‑day ban that prevents anyone who buys at the official rate from transacting in MEP or CCL to block the ‘rulo’ arbitrage.
• Gross reserves rose about USD 1.889 billion to roughly USD 41.238 billion, with market estimates tying the gain mainly to Treasury block purchases of around USD 1.35 billion Friday and about USD 1.8 billion for the week.
• Reference rates hold segmented: the official at ARS 1,300/1,350, the blue near ARS 1,440, the MEP around ARS 1,433, and the CCL near ARS 1,472, leaving gaps of roughly 8%–11%.
• Farm exporters have already liquidated about USD 3.6 billion, with roughly USD 2.6–2.7 billion expected early this week, providing short‑term downward pressure on the exchange rates.
• Crypto proxies stayed firmer over the weekend (USDT near ARS 1,468 on major platforms), and analysts caution that pre‑election dollar demand into October 26 could revive volatility once the farm supply fades.