Overview

• The peso closed around 1,515 per dollar on Friday, above the top of the daily trading band, following fresh central bank support.
• The monetary authority intervened for the first time in five months, with reports estimating two-day dollar sales near $432 million, though some tallies cite only a $53 million move on Wednesday.
• Country risk climbed to a one-year high above 1,400 basis points as the Merval fell about 5% and sovereign bonds slid roughly 3–4%.
• Dollar demand spilled into the parallel “blue” market, where traders reported a record intraday rate near 1,505–1,510 per dollar.
• Reserves near $39–40 billion and debt service of $34 billion through 2027 have prompted warnings that continued intervention could erode buffers as political setbacks cloud President Javier Milei’s austerity push.