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Argentina’s FX Strain Eases After U.S. Swap-Line Signal With Official Dollar at 1,450

Clarity that U.S. support will take the form of a swap line steadied trading.

Overview

  • The Banco Nación rate closed unchanged at 1,450 pesos, while the blue dollar dipped to 1,450 and the gap versus the wholesale rate narrowed to about 1.8%.
  • Financial dollar quotes eased from intraday highs, with MEP near 1,503 pesos and CCL around 1,553 at the close.
  • The wholesale dollar ended at 1,424.50 pesos, still below the floating band ceiling set near 1,481.70 for the day.
  • Gross international reserves were reported at about US$42.231 billion, and recent Treasury dollar sales topped US$2 billion as part of market support.
  • U.S. Treasury Secretary Scott Bessent said assistance would be a swap line rather than a direct cash injection, and Finance Minister Luis Caputo is set to travel to Washington for talks, helping improve sentiment as local bonds and ADRs rebounded.