Overview

• Argentina’s wholesale exchange rate closed near 1,369 pesos after touching 1,350 intraday, reversing last week’s spike and marking levels below the pre‑election period.
• Country risk retreated toward roughly 1,000 basis points as sovereign bonds and several ADRs extended gains, while dollar futures fell up to about 5.7–6%.
• The government set export duties at 0% for grains, oilseeds and select meats until October 31 to accelerate FX inflows, though early grain liquidations were modest at about US$21 million on Monday against an official goal reported at up to US$7 billion.
• U.S. Treasury Secretary Scott Bessent publicly signaled readiness to support Argentina within the department’s mandate, and the World Bank said it would accelerate disbursements of up to US$4 billion.
• Markets see short‑term relief but flag fiscal costs from foregone duties, low reserves and heavy maturities, with futures still implying depreciation by year‑end as details of external support are finalized.