Overview
- The Central Bank bought US$187 million in a single session and has accumulated US$515 million this year, with gross reserves at US$44.717 billion after about US$100 million in multilateral payments limited net gains.
- With thin trading, the wholesale dollar fell to $1,453 and the retail rate to $1,480, placing the official rate roughly 6% below the band ceiling as the BCRA absorbed about 70% of spot volume, reportedly via block purchases.
- The Treasury placed $9.37 trillion and achieved a 98% rollover, but accepted sharply higher costs, including a 49.16% annual TIREA on the shortest Lecap and elevated returns across other peso instruments.
- Argentine assets fell, with sovereign bonds lower and the S&P Merval down around 2.8%, as JP Morgan’s country risk rose to 586 points with intraday moves near 591.
- Private estimates indicate provinces face nearly US$2.5 billion in dollar maturities in 2026, starting with Tierra del Fuego’s January 21 payment, posing an additional draw on foreign currency.