Overview

• The Finance Ministry said the Treasury will actively sell foreign currency in the MULC to ensure liquidity and normal market functioning.
• After the announcement, the official dollar slipped by 10 pesos to ARS 1,375 at Banco Nación, while blue, MEP and CCL quotes eased or stabilized around the mid-1,300s, narrowing spreads.
• Authorities stressed that the operation does not use Central Bank reserves and was coordinated with the IMF, with sales funded by Treasury-held dollars on deposit at the BCRA.
• Brokers and analysts estimate the Treasury has roughly USD 1.6–1.7 billion available, suggesting capacity for interventions near USD 100 million per day for a limited period.
• Economists warned the step marks a retreat from the previously touted float-within-bands framework and reflects election-related volatility, as sovereign bonds fell more than 3% even as the S&P Merval recovered.