Overview
- The BCRA bought $3.003 billion year to date through early March, marking 43 consecutive sessions with a positive FX balance and lifting gross reserves to about $46.0 billion.
- Authorities set a 2026 purchase goal of at least $10 billion, expandable to $17 billion depending on market conditions under the phase‑4 framework.
- Dollar buying is financed with peso issuance that the Treasury absorbs via local debt, alongside a 5% daily cap of MLC volume and direct off‑market deals to moderate monetary effects.
- Despite reserve accumulation, Argentina’s wholesale dollar closed near ARS 1,416 and the retail rate around ARS 1,435, with the blue dollar near ARS 1,395–1,415.
- A sharp escalation in the Middle East strengthened the US dollar and lifted oil above $100, pushing the Mexican peso to a weekly loss near 3.25%, a break above 18 per dollar, and the BMV’s worst week since 2022 with a 5.71% drop.