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Argentina’s FX Strain Deepens as Treasury Caps Dollar Near Band Ceiling

Markets await U.S. backing, with fragmented dollar quotes and tight reserves fueling expectations of a post‑election FX reset.

Overview

  • The official dollar stands at $1,400 buy and $1,450 sell on Banco Nación screens, while the wholesale rate hovers near $1,430, still below today’s band ceiling of $1,483.67.
  • Financial dollars trade higher, with the MEP around $1,498.8 and the CCL near $1,525.9, as the blue holds about $1,440, leaving a near‑zero gap with the official.
  • Market reports indicate the Treasury sold more than US$650 million last week and is again posting offers that impose an intra‑band ceiling, shifting from roughly $1,425 to about $1,430.
  • Analysts cite signs of discreet nudges in the wholesale rate resembling a mini‑crawling adjustment, even as international reserves are reported near US$42.7 billion.
  • Economy Minister Luis Caputo is in Washington for talks with U.S. Treasury Secretary Scott Bessent, with no concrete disbursement announced and broad expectations of a regime recalibration after the October 26 vote.