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1h ago

Argentina’s Treasury Sells About $100 Million to Steady Peso

Officials say the IMF backed using Treasury balances, producing only a modest pullback in dollar quotes.

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El dólar blue saltó $40 en dos ruedas y rozó su máximo de 2025.
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Overview

  • Finance Secretary Pablo Quirno announced the Tesoro would enter the spot FX market to provide liquidity and ensure normal functioning.
  • The government confirmed sales slightly above US$100 million on Tuesday, nudging the official dollar down about ARS 10 to roughly ARS 1,375.
  • MEP and CCL eased by roughly 0.8–1%, and the blue closed near ARS 1,360, underscoring a fragmented currency market.
  • Officials said the operation was coordinated with the IMF and did not use Central Bank reserves, with the BCRA staying out of the MULC.
  • Analysts cautioned the policy shift weakens the floating-band’s credibility and may be short-lived given limited Treasury firepower (reports cite around US$1.5 billion) and election risk.