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yesterday

Peso Hits Band Ceiling Forcing Central Bank Sale as Blue Tops $1,500

Caputo says the Treasury stopped buying dollars at current levels.

Proyección tras el presupuesto.
El BCRA publicó los valores de la banda cambiaria
La Argentina está cerca del riesgo país de Bolivia
La Fed dio ayer un paso esperado, pero crucial. (Foto: Reuters)

Overview

  • The wholesale exchange rate closed at $1,474.50, effectively touching the managed band’s ceiling now published near $1,474.83 by the BCRA.
  • The central bank sold US$53 million on Wednesday in its first intervention under the band, with reported reserves around US$39.8 billion.
  • Parallel and financial rates jumped, with the blue near $1,505 and CCL/MEP around $1,500, while the retail dollar held near $1,485.
  • Argentine assets fell sharply as dollar bonds dropped roughly 3–6%, the S&P Merval slid, and the JP Morgan risk index rose into the 1,300–1,430 basis‑point range.
  • Presidential spokesman Manuel Adorni said the BCRA will act when the ceiling is reached, reinforcing a policy stance now under market scrutiny ahead of October elections.