The Central Bank of the Republic of Argentina (BCRA) purchased US$42 million in the foreign exchange market, extending its streak to 30 consecutive days of currency acquisitions. Gross international reserves reached US$45.158 million, up US$102 million from the previous day. Since the start of the year, the BCRA has added purchases totaling US$2.089 million, including US$932 million in February.
The Central Bank of the Republic of Argentina (BCRA) recorded a purchase of US$42 million in the foreign exchange market, raising gross international reserves to US$45.158 million, an increase of US$102 million compared to the previous trading day. This operation is part of an uninterrupted sequence of 30 days of currency acquisitions, started since January 5, with a daily average of US$71 million. For the year to date, total purchases amount to US$2.089 million, of which US$932 million correspond to February.
According to economist Federico Machado, net reserves stand at -US$356 million. Consultancies like LCG note that these purchases stem mainly from the financial account, driven by corporate and provincial placements, as well as foreign currency loans that must be settled in the Mercado Libre de Cambios (MLC). The government promotes a 'covered carry' with peso rates above expected inflation and lower depreciation expectations, serving as a bridge until dollar inflows from the harvest in the second quarter.
LCG highlights that the monetary base is receding due to the Treasury's sterilization through net debt placements, appreciating the current focus on rebuilding reserves, though remonetization remains discursive. Aurum welcomes the BCRA's strategic shift toward persistent purchases but cautions that net reserves have not recovered to pre-January bond payment levels, treating the REPO as short-term debt.
Starting in 2026, exchange bands will adjust based on inflation reported by the INDEC, and the BCRA is implementing a mechanism to bolster reserves. Official projections estimate purchases between US$10,000 and US$17,000 million that year, with daily limits of 5% of the traded volume in the market to prevent disruptions.
