[REVISION HISTORY]

Argentina reserve buildup under Milei

Updated 9 times since CLSTR started tracking revisions of this situation.

What changed

2026-08-07 11:35 UTC → 2026-08-29 05:00 UTC · added ~~removed~~

In early August ~~2026~~ 2026, the Banco Central de la República Argentina (BCRA) ~~kept buying dollars,~~ continued a streak of dollar purchases, adding US$28 million in a single day and roughly US$266 million to its ~~foreign‑exchange~~ foreign-exchange reserves. Cumulative purchases since January reached about US$13.7 billion, lifting total reserves to US$49.6 ~~billion – the~~ billion—the highest level under President Javier Milei and the strongest since 2019. By the end of the ~~month~~ month, the reserve balance crossed the US$50 billion mark, closing at US$50.059 billion, helped by daily dollar purchases, higher gold prices, multilateral ~~inflows~~ inflows, and strong export earnings. On ~~5‑6~~ 5-6 August ~~2026~~ 2026, the BCRA renewed its bilateral ~~currency‑swap~~ currency-swap line with the People’s Bank of China, extending the agreement from three to five years and keeping it in force until 2031. The facility covers RMB 130 billion ~~(≈US$19‑20~~ (≈US$19-20 billion) with an active tranche of RMB 35 billion (≈US$5 billion) available for import payments without tapping dollar reserves. Governor Santiago Bausili said the longer horizon adds predictability, reinforces the country’s ~~foreign‑exchange~~ foreign-exchange buffer, and supports financial stability, ~~trade~~ trade, and investment with China. The swap now represents roughly ~~40 %~~ 40% of the BCRA’s gross reserves. Economy Minister Luis Caputo presented the larger reserve buffer as a safeguard against volatility and a sign of improved ~~balance‑sheet~~ balance-sheet strength, while Milei continues to balance close ties with the United States and deeper economic relations with China. BCRA’s own surveys project inflation near ~~2 %~~ 2% for July 2026, with a modest decline expected in the following months.

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