The Central Bank continues to consolidate its strategy of accumulating reserves and has already reached almost 80% of the annual dollar purchase target set for 2026. This Tuesday, the entity added another USD 70 million and has accumulated 85 consecutive days with a positive balance in the foreign exchange market.
With this new acquisition, the BCRA has already purchased nearly USD 7.700 billion so far this year, equivalent to 76.9% of the minimum target projected for all of 2026. Since the beginning of the new monetary scheme in January, the monetary authority has had only one day without foreign currency purchases: January 2.
The results of the day.
April was the month of highest activity for the Central Bank, with purchases of USD 2.769 billion, while May started with a somewhat more moderate pace. Nevertheless, the economic team maintains positive expectations for the massive influx of dollars from the grain harvest, which has not yet fully impacted the foreign exchange market.
From the Ministry of Economy, they believe that the flow of foreign currency from the agro-export sector will allow for an acceleration in the accumulation of reserves over the coming weeks. In parallel, they also expect a boost from corporate debt issuances abroad, which could contribute more than USD 3.200 billion additional.
International reserves closed at USD 46.185 billion, after a daily increase of USD 42 million. The current level remains close to the maximum reached during the administration of Javier Milei, when in February it hit USD 46.905 billion, a figure not seen since 2018.
Santiago Bausilli, president of the Central Bank of the Argentine Republic.
The president of the Central Bank, Santiago Bausili, emphasized that the flow of dollars and the domestic demand for pesos will be central factors in determining the final outcome of the monetary program. Official projections estimate that net purchases could range between USD 10.000 billion and USD 17.000 billion during this year.
In addition to strengthening reserves, the strategy aims to maintain exchange rate stability and consolidate the process of inflation deceleration. From Portfolio Personal Inversiones, it was noted that the BCRA could even match or exceed the purchasing pace recorded in April, especially as the liquidation of the agricultural sector deepens.
