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Peso Strengthens as BCRA Cuts Policy Rate to 25% and Dollar Quotes Ease

Agro liquidations plus reported U.S. backing injected dollars to ease FX stress.

Overview

  • Official retail averaged ARS 1,312.41 (buy) and ARS 1,367.95 (sell), wholesale traded near ARS 1,337.50, and the blue hovered around ARS 1,385/1,405.
  • Financial dollars softened with MEP at about ARS 1,369.47 and CCL near ARS 1,391.27, narrowing gaps to roughly 2–5% versus the official rates.
  • The central bank accelerated easing, lowering short‑term instruments to a 25% policy level after money‑market returns spiked earlier in the month.
  • Market calm followed a reported U.S. Treasury support package — including a potential swap facility up to USD 20 billion and possible bond purchases — that lifted risk sentiment.
  • A temporary suspension of export duties spurred roughly USD 7 billion in agro dollar liquidations over three days, while gross reserves stood near USD 39 billion and unconfirmed chatter pointed to a Treasury buy of about USD 100 million in the MULC.