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yesterday

Argentina’s Peso Hits New Lows as Central Bank Sells Dollars to Defend Band

Persistent dollar demand signaled skepticism that the exchange-rate band will survive after Sunday’s vote.

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El domingo se vota y la gente está pendiente de su bolsillo
Soybean fields during a harvest at a farm outside St. Peter, Minnesota, US, on Tuesday, Sept. 30, 2025. US President Donald Trump said he would confront Chinese President Xi Jinping over Beijing's refusal to purchase American soybeans, a growing area of tension between the world's two largest economies. Photographer:

Overview

  • Banco Nación’s official dollar closed at ARS 1,515 after heavy cash trading of more than US$700 million, with the wholesale rate at ARS 1,490.50 just below the ARS 1,491.1 band ceiling.
  • The BCRA sold roughly US$45–45.5 million to cap the move, marking its first spot intervention in 21 sessions.
  • International reserves dropped about US$776–779 million to roughly US$40.5 billion following the day’s operations and other outflows.
  • Financial and parallel exchange rates set fresh highs, with MEP near ARS 1,580, CCL around ARS 1,600, and the blue market quoted between ARS 1,530 and ARS 1,561 depending on the plaza.
  • U.S. Treasury Secretary Scott Bessent reaffirmed support and a swap of about US$20 billion was confirmed as officials pursue repo financing and a debt-repurchase plan, while analysts report rising bets on a post‑election change to the currency regime.