NewsMacro & flows
BCRA skips FX purchases for 3rd straight day, a first since January
3 days, zero buys: Argentina's BCRA pauses reserve accumulation for the first time since January as the dollar hits a record ARS 1,541.
Argentina's central bank made no FX purchases for a 3rd straight session, the first such streak since its accumulation plan began Jan 3. Wholesale dollar closed near ARS 1,541.
Read: hedging demand after Brazil's election and Treasury dollar needs are crowding out BCRA buying; gross reserves still edged up to USD 50.6B.
Watch: USD 877M IMF interest due Nov 5 and whether BCRA resumes buying.
Why it matters
A slower reserve build weakens the peso's backing as FX demand rises and the Treasury faces a USD 877M IMF payment on Nov 5, adding pressure on Argentine bonds and stocks.
Source: La Nación
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