Core Viewpoint - The Argentine government is selling USD to curb the depreciation of the peso, with an estimated sale of between 150 million to 200 million USD on January 3, coinciding with the implementation of a new foreign exchange trading mechanism [1][2]. Group 1: Currency Exchange and Government Actions - On January 3, the Argentine Ministry of Finance sold USD to limit the depreciation of the peso [1][2]. - The peso depreciated by 1.4% against the USD, reaching an exchange rate of 1 USD to 1475 pesos [1][2]. - A new exchange rate framework was announced in December, allowing the peso trading range to expand in line with monthly inflation rates, eliminating the previous 1% monthly fluctuation cap [1][2]. Group 2: Upcoming Financial Obligations - Argentina is approaching a critical date for USD bond payments on January 9, with only a few days remaining [1][2].

Core Viewpoint - The Argentine Ministry of Finance sold dollars to limit the depreciation of the peso on the first trading day of the new exchange rate mechanism, with the sale estimated between 150 million to 200 million USD [1] Group 1: Exchange Rate Mechanism - The new exchange rate framework allows for a wider trading range for the peso, which will expand in line with monthly inflation rates, replacing the previous 1% monthly fluctuation cap [1] - On the first trading day under the new rules, the peso depreciated by 1.4%, reaching an exchange rate of 1 USD to 1475 pesos [1] Group 2: Upcoming Debt Obligations - Argentina is approaching the dollar bond payment date on January 9, with limited time remaining to stabilize the currency [1]