Overview

• U.S. Treasury actions include a confirmed USD 20 billion swap line and direct peso purchases, with signals that interventions could continue as needed.
• Monday’s intervention-driven drop in dollar references and rally in Argentine assets gave way to a modest Tuesday bounce, with the official near $1,385–$1,390, blue at $1,410–$1,420, MEP around $1,421–$1,432, and CCL near $1,450.
• Economy Minister Luis Caputo and BCRA director Federico Furiase said dollarization is off the table and the bands-based floating regime will remain in place.
• BCRA gross reserves rose about USD 195 million to roughly USD 42.251 billion as short-term funding costs stayed elevated, with repos reported near 125% and caución around 75%.
• Investors are focused on the Milei–Trump meeting in Washington for details on the scope and durability of U.S. assistance, while analysts warn the relief may be temporary.