Argentina's Central Bank boosts reserves with major dollar purchase

The Central Bank of Argentina significantly bolstered its international monetary reserves by purchasing $532 million on the foreign exchange market. This transaction marks the largest single-day dollar acquisition so far this year, pushing the bank's total reserves to $48.687 billion.

This move aligns with Argentina's obligations under the extended facilities agreement signed with the International Monetary Fund (IMF) in April 2025. A key objective of this agreement is the accumulation of reserves. To meet these targets, the Central Bank had previously announced a program for accumulating international reserves, which commenced on January 1 of the current year.

Financial analysis firm Portfolio Personal Inversiones highlighted the significance of the purchase, noting it as the largest since the reserve accumulation scheme began in 2026. Cumulatively, the Central Bank's dollar purchases this year have reached $12.277 billion, demonstrating a consistent effort to strengthen the nation's foreign currency holdings.