Wholesale peso closes at ARS 1,525.50; reserves drop after IMF payment

Published 2026-09-26 · Updated 2026-11-04

What happened

Local market reporting said the wholesale peso-dollar exchange rate closed at ARS 1,525.50 on September 25, the highest nominal close on record. Ámbito and El Cronista also reported that gross reserves fell during the week after a payment of nearly USD 800 million to the IMF, and that the BCRA did not purchase dollars in the official market.

Why it matters

A record nominal wholesale FX close together with lower reserves gives a current market signal on peso pricing and hedging demand. That matters for near-term funding conditions, debt placement, and the credibility of exchange-rate management.

On September 25, Argentina's wholesale peso-dollar rate closed at ARS 1,525.50, which local financial press reported as a new nominal high. The same coverage said FX hedging demand increased while Central Bank reserves fell during the week after an IMF payment and the BCRA did not buy dollars in the official market. The combination gives markets a fresh price signal on exchange-rate pressure as debt-management and reserve-use decisions remain under scrutiny.

Watch for

BCRA international-reserves release on 2026-09-29 showing whether gross reserves stabilize after the IMF payment week A3 Mercados data on the 2026-09-29 wholesale USD/ARS close relative to ARS 1,525.50 BCRA or Economy Ministry auction notice by 2026-09-29 for peso debt instruments indexed to FX or inflation ROFEX/Matba futures settlement data on 2026-09-29 showing whether open interest or implied devaluation shifts higher in short-dated USD/ARS contracts

Sources

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