The monetary authority added foreign currency for another day and raised gross reserves to USD 49.376 billion, while the country risk fell to 411 points and continued to improve market confidence
At the heart of this economic success, the Central Bank of the Argentine Republic (BCRA) achieved a fundamental strategic victory for the stability of the peso. In a demonstration of operational strength, the BCRA acquired USD 18 million for its reserves in the foreign exchange market.
Thanks to this intervention, gross international reserves climbed to USD 49.376 billion, reaching their highest amount since July 7.
Buying and selling dollars
This accumulation of foreign currency occurs in a context where the wholesale dollar ended at 1,495 pesos, with a gain of ten pesos driven by demand that, according to Francisco Díaz Mayer from ABC Mercado de Cambios, “intensified again towards the final stretch”.
Meanwhile, the blue dollar reflected confidence in the official program by falling five pesos, settling at 1,555 pesos.
The Government's determination to eradicate the cancer of inflation was also manifested in the legislative arena. The Executive Power sent a comprehensive reform project to the Central Bank's Organic Charter to Congress.
According to the consultancy Invecq, this measure aims to “shield the possibility of resuming financing to the National Treasury by the monetary authority”, with the non-negotiable goal of strengthening the stabilization program and making it “less exposed to future political changes”.
International Reserves 2019-2026
The global financial scenario provided a framework of optimism that the libertarian management skillfully capitalized on. International stock markets resumed their upward trend at the beginning of August, driven by large American technology companies and a dramatic 5% drop in oil prices, which injected renewed confidence into investors.
In New York, indicators progressed to 2.1%, with the Dow Jones Industrial rising 1.3% to close at a historic high of 53,178 points.
According to Damián Vlassich from IOL, milestones like Amazon, which surpassed USD 3 trillion in valuation after “climbing nearly 5% in regular trading”, set the tone for a day where Microsoft added 5.3% and Meta Platforms advanced 6.6%.
The president, Javier Milei
This climate of external excitement translated locally into a strong signal of support for President Javier Milei's policies. Dollar-denominated sovereign bonds gained an average of 0.6%, causing a drop of 22 units in the Country Risk, which positioned itself at 411 basis points. Damián Vlassich emphasized that this firmness in fixed income “allowed for a compression of country risk to nearly three-week lows”.
In the equity market, although the S&P Merval index fell 0.5% in pesos to 3,274,443 points —affected by the drop in crude oil that took 5.2% off the WTI—, Argentine ADRs showed resilience with notable gains such as that of Satellogic, which climbed over 10%.
While the world watches in amazement at Argentina's recovery, Javier Milei's administration moves forward with firm steps: reserves on the rise, country risk falling, and an institutional shield that promises to put an end to the monetary scams of the past forever. The path to freedom is already a tangible reality in market figures.
