The BCRA has fully repaid its outstanding reverse repos with international banks, totaling USD6 billion, and has entered into a new reverse repo agreement for the same amount with ten leading international banks, maturing in September 2028.
Through this transaction, the BCRA has refinanced all the maturities of these instruments scheduled for 2026 and 2027. This measure strengthens the BCRA’s position regarding liquidity in foreign currency and enhances the predictability of its foreign currency flows, thus favoring the orderly operation of the local forex market.
In addition to improving the BCRA’s maturity profile, this transaction has contributed to reducing financing costs once again and broadening the number of participating international banks.
As in the last transaction, BONAR securities held in the BCRA’s portfolio were used for this transaction. In the auction conducted on June 30, the BCRA received bids totaling USD8.25 billion, significantly exceeding the amount offered and reflecting international banks’ continued confidence in Argentina’s macroeconomic stabilization and in the strengthening of the BCRA’s balance sheet.
Under the terms of this transaction, the BCRA will pay an interest rate equivalent to the SOFR-USD plus a spread of 4.00%.
The BCRA will continue to implement actions aimed at maintaining the macroeconomic and monetary balance achieved, strengthening its balance sheet and consolidating an environment of predictability and stability.
