Overview

• After a brief pause on Tuesday, the wholesale dollar advanced about $8.5 on Wednesday, while the retail rate hovered near $1,370–$1,375 at Banco Nación and in market averages.
• JP Morgan’s Riesgo País climbed to roughly 829–850 basis points, the highest since April, as sovereign bonds stayed weak and Argentine bank shares led equity declines.
• The Central Bank raised bank reserve requirements to historic levels reported around 53.5% and reinforced futures-market activity to withdraw pesos and curb exchange‑rate pressure.
• The Treasury is holding a key licitación offering Lecaps, TAMAR notes and dollar‑linked paper to absorb liquidity and roll over heavy near‑term maturities estimated at about $7.7–$9 trillion pesos.
• Analysts and officials continue to flag the upper band near $1,460 as the line of defense, with recent IMF funds lifting gross reserves toward $43 billion even as some readings place them closer to $41.1 billion.