Overview

• Wholesale dollar closed near ARS 1,369 after an intraday low around ARS 1,350, while Banco Nación’s retail rate ended at ARS 1,385, both below last week’s peaks.
• Parallel and financial rates retreated, with the blue around ARS 1,410 and MEP/CCL near ARS 1,400–1,416, narrowing spreads to just a few percentage points.
• Futures pricing fell as much as 5–6%, with markets now implying roughly ARS 1,364 for late September and about ARS 1,50x for December, above today’s band ceiling.
• Country risk slid to about 1,001 bps and sovereign bonds and several ADRs extended gains after Monday’s sharp rebound.
• The move followed a zero‑rate suspension of export duties for grains and certain meats through October 31 and a public U.S. Treasury pledge of support, while any large U.S. financing remains unconfirmed and early agro liquidations are only starting to show.