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BCRA Reserves Hit Four-Year High After 12-Day Buying Streak

IMF officials praise the phase 4 program, with gold gains boosting the reserve tally.

Overview

  • The central bank bought USD 8 million on Tuesday, closing with gross international reserves of USD 44.874 billion.
  • Reserves stand at their highest level since September 2021 and mark the largest stock since Javier Milei took office.
  • Since the launch of the phase 4 monetary program, net purchases total about USD 716 million across twelve sessions.
  • Tuesday’s was the smallest daily purchase of the phase 4 period, yet overall accumulation remains positive.
  • Reserves rose USD 66 million versus Monday largely on higher gold prices, with roughly 2 million troy ounces valued near USD 4,760 per ounce, as the IMF’s Julie Kozack lauded the rapid pace and kept 4% growth forecasts for 2026–27.