Overview
- The wholesale exchange rate fell for a fifth session to about 1,387 pesos, placing it roughly 8.4%–8.5% under the ceiling of the currency band.
- The blue dollar traded near 1,435 pesos in Buenos Aires (around 1,450 in some cities), while CCL, MEP and crypto proxies hovered around 1,446–1,487 pesos, widening spreads.
- BCRA chief Santiago Bausili said reactivating the U.S. swap is unnecessary, signaled plans to renegotiate IMF reserve targets, and emphasized dollar purchases only as peso demand strengthens.
- Corporate placements and anticipated provincial issues injected an estimated US$2.9–3.15 billion, lifting market supply and helping cap the official rate.
- Even with a calmer FX tape, ADRs, the Merval and several sovereign bonds fell, as the Economy Ministry reported an October primary surplus of about 824 billion pesos.