The wholesaler fell below $1,400 and the blue sank $70 after the intervention of the US Treasury. The Government confirmed that it will maintain the exchange rate band scheme and ruled out dollarization, while the market awaits details of the agreement between Milei and Trump.
After the US Treasury intervention in the foreign exchange marketthe market will operate this Tuesday, October 14 with total normality, after the holidays for the Day of Respect for Cultural Diversity at the local level and “Columbus Day” in the US on Monday. In that framework, the wholesale dollar suffered its biggest daily drop since May and fell below $1,400, while the blue sank $70 and was cheaper than the parallels. He dollar future, also collapsed as the chances of depreciation of the peso decreased with the support of the US until October 26.
In this context, the market is preparing for another day of strong expectations for the meeting between Donald Trump and Javier Milei that could reveal the “fine print” of the agreement that Argentina has with the US for the currency swap for US$20,000 million. He crypto dollarwhich acts as a preview of the day, gives up almost 3% and is around $1,455 this Tuesday.
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Trump support: how the exchange rate scheme continues
Late Sunday, the Minister of Economy, Luis Caputoassured that “dollarization is ruled out” and defended the agreement reached with USAwhich includes a US$20 billion swap. Since his return from Washington, the official described the understanding as “the most important economic news in decades” and highlighted the president’s support Donald Trump.
During an interview with LN+, The head of the Treasury Palace stated that The Government will maintain the current scheme of exchange bands and a floating exchange rate, ruling out rumors about imminent dollarization. “We are going to continue in the band scheme and the exchange rate will float,” said the minister.
“All the tools, the Secretary of the Treasury already said, are on the table. They are willing to continue buying pesos in the free exchange marketin the financial dollar, in the future dollar, in bonds. “They are willing to do whatever it takes,” Caputo said in statements to LN+.
Source: Ambito
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