The Central Bank of Argentina (BCRA) has increased its dollar acquisitions significantly, purchasing US$1.255 billion this month. Of this amount, 80% will be allocated to settle the Bopreal. This move comes as the BCRA aims to control the depreciation of the national currency amidst ongoing economic pressures. Today, the bank acquired US$167 million, which represents over 35% of the total dollar transactions conducted in the local exchange market, indicating its intensified intervention strategy.

The escalation in dollar purchases by the BCRA is a strategic response to counteract the declining value of the Argentine peso, which has recently fallen to record lows. The exchange price reached $137.6 per dollar, a level not seen since mid-October, underscoring the urgency for the Central Bank to stabilize the currency. The bank's approach of leveraging foreign reserves aims to curtail the rapid depreciation and maintain a semblance of market confidence in the domestic economy.

Moreover, the BCRA's move to utilize its foreign reserves to manage outstanding debts, including the critical US$1.004 million payment due shortly, reflects broader economic challenges. As reserves exceed US$46 billion for the first time again, the bank's actions are closely monitored by analysts and investors, signaling a delicate balancing act between maintaining currency stability and fulfilling financial obligations. This situation encapsulates the ongoing struggles of Argentina's economy in navigating fiscal responsibility while supporting its currency against external market pressures.