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Argentine Peso Eases From Band Ceiling as Market Eyes Treasury Rollover

With the official rate down from its post‑election spike, markets pivot to today’s peso debt auction.

Overview

  • Banco Nación’s retail dollar slipped to about $1,475 on Wednesday from roughly $1,500 earlier in the week, and the wholesale rate hovered near the mid‑$1,450s, widening distance from the $1,498 band ceiling.
  • Parallel exchanges stayed choppy, with the blue near $1,455, the MEP around $1,496 and the CCL roughly $1,507–$1,516.
  • The Treasury faces more than $10 trillion pesos in maturities in today’s sale, and analysts warn that a weak rollover could tighten liquidity after recent peso injections.
  • Participants watch Central Bank reserves reported near US$40.8 billion and note futures pricing of roughly $1,478 for end‑November and $1,513 for December.
  • After a cabinet‑driven rally, stocks saw profit‑taking as several ADRs fell and sovereign bonds firmed, with country risk settling near 650–660 points.