Overview

• The retail dollar on Banco Nación screens spiked ARS 35 to ARS 1,490 intraday before easing to ARS 1,450 at the close, with the systemwide average ending near ARS 1,459 and the wholesale rate at ARS 1,420.
• Market reports indicate the Treasury has roughly US$300–350 million left to intervene after deploying about US$2.04 billion in six sessions, and it lifted its intra-band dollar offer level to around ARS 1,470.
• Gross reserves fell US$136 million on Wednesday to US$42.066 billion, with officials citing about US$35 million in debt payments, and later were reported at US$42.056 billion after an additional US$10 million drop.
• Short-term peso funding tightened sharply, with the one-day caución near 45% TNA and interbank repo around 57% TNA, signaling acute liquidity stress.
• Alternative dollar rates stayed above the official: the blue traded around ARS 1,475, the MEP and CCL hovered roughly in the ARS 1,46–1,57k range, and crypto quotes were near ARS 1,545, as markets awaited potential U.S. assistance.