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2h ago

Peso Jumps on U.S. Support as Official Dollar Falls Below $1,400

U.S. Treasury backing through direct peso buying alongside a $20 billion swap calmed devaluation bets before Tuesday’s Milei–Trump meeting.

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Traders work on the floor of the New York Stock Exchange (NYSE) in New York, US, on Monday, Sept. 22, 2025. Wall Street traders left stocks hovering near all-time highs amid calls for a break after a $15 trillion rally from April lows, with traders awaiting a handful of Federal Reserve speakers and a key inflation measure. Photographer: Michael Nagle/Bloomberg
(FILES) A supporter of Argentina's President-elect Javier Milei displays a one hundred dollar bill placard with an image of the future president as he waits outside the Congress before his inauguration ceremony, in Buenos Aires on December 10, 2023. Argentina's President Javier Milei marks 100 days in office on March 19, 2024. (Photo by Luis ROBAYO / AFP)
El dólar opera sin cambios en el inicio de la semana (NA).

Overview

  • U.S. Treasury officials confirmed direct intervention in Argentina’s FX market and a $20 billion swap with the central bank, triggering an immediate pullback in dollar quotes.
  • The Banco Nación rate slid to $1,375 for sale and the wholesale dollar fell to roughly $1,349–$1,351, while the blue eased to about $1,405–$1,420.
  • Financial-dollar gauges also retreated, with MEP near $1,407–$1,415 and CCL around $1,423–$1,451, as dollar futures dropped up to 6%.
  • Argentine assets rallied, with several ADRs jumping into double digits and some reports citing gains as high as 17%, while risk spreads hovered below 1,000 bps.
  • Economy Minister Luis Caputo said dollarization is discarded and the exchange-rate bands remain in place; markets noted thin liquidity due to the U.S. holiday and gross reserves near $42.056 billion.