Overview
- The central bank sold US$379 million on Thursday after US$53 million Wednesday to hold the wholesale rate near the band ceiling of about $1,475.3.
- The retail dollar at Banco Nación rose to $1,515, a new nominal high, with the wholesale quote around $1,474.5.
- Financial and parallel dollars moved above $1,500, with MEP near $1,535 and CCL around $1,564, highlighting a widening gap with the official market.
- Authorities reimposed limits on directors, managers and major shareholders of banks and financial firms to curb arbitrage between the official market and CCL/MEP.
- Sovereign bonds fell as much as 13.4% Thursday and country risk surpassed 1,400 basis points before easing to ~1,408 Friday, while reported reserves dropped roughly US$370 million to about US$39.4 billion.