Overview

• The official dollar fell about $80 to $1,370 at Banco Nación and the wholesale rate slipped to roughly $1,350–$1,355 after the U.S. Treasury confirmed direct peso buying and a US$20 billion swap with the BCRA.
• Parallel and financial quotes retreated, with the blue dollar near $1,420–$1,475, MEP around $1,413–$1,441 and CCL near $1,430–$1,453, compressing the gap with the official rate to low single digits.
• Futures contracts dropped 5–6% and Argentine equities rallied, with U.S.-listed ADRs up as much as roughly 10–11% in thin holiday trading.
• Economy minister Luis Caputo said dollarization is discarded, pledged to maintain the bands and a floating regime, and echoed that “all the tools” remain available for support across FX segments.
• Markets expect a short-term ‘pax cambiaria’ into the October 26 elections but are watching for swap terms, the scale of further U.S. operations, and signals from the planned Milei–Trump meeting.