The BCRA closed May with a purchase of USD 70 million, extending its streak to 97 consecutive sessions.

The Central Bank of the Argentine Republic (BCRA) closed the month of May with a new net purchase of USD 70 million in the official exchange market, extending its buying streak to 97 consecutive sessions and consolidating the reserve accumulation process driven by the government of Javier Milei.

The operation took place during a day of high activity in the exchange market, with a traded volume of USD 719.9 million in the spot segment. In this context, the monetary authority absorbed nearly 10% of the private currency supply, maintaining the positive trend it has been recording since the beginning of the year.

Meanwhile, the official retail dollar remained stable at $1,430 for sale at Banco Nación, while the wholesale dollar closed at $1,408, with a slight decrease of two pesos compared to the previous session. According to market operators, the day proceeded normally and within a limited range of quotes, reflecting a scenario of relative exchange rate stability.

The continuity of the Central Bank's purchases occurs in a context of strengthening Argentine assets. During the day, the S&P Merval index rose by 2.5%, while Argentine stocks listed in New York recorded increases of up to 5.6%. Additionally, the country risk fell to 493 basis points, its lowest level since early February.

Analysts highlight that the improvement in financial expectations was also supported by the recent disbursement of USD 1 billion approved by the International Monetary Fund following the second review of the current program with Argentina. Furthermore, the Treasury achieved this week a tender with a rollover exceeding 100%, in a context of high liquidity and increasing demand for peso-denominated instruments.

Despite an accounting drop of USD 320 million due to technical end-of-month movements, international reserves closed at USD 48.191 billion, a level not seen since 2019 and reflecting the sustained rebuilding of the Central Bank's external assets.

With the purchase of USD 70 million this Friday, the monetary entity extended its buying streak to 97 consecutive sessions. The accumulation of reserves, the decrease in country risk, and exchange rate stability continue to strengthen market confidence in the economic program of the government of Javier Milei.