The Central Bank of Argentina denies that the peso has broken through the upper limit of the trading range, citing technical factors.

Jin10 data reported on September 18 that the Central Bank of Argentina denied that the peso has exceeded its upper limit of the trading range, stating that its calculation results are slightly different from the numbers derived from the publicly disclosed formula. According to the agreement reached between Argentina and the International Monetary Fund (IMF) in April, the upper and lower limits of the range are gradually expanded by 1% per month, evenly distributed over each day. Based on this calculation method, the peso reached 1,474.5 pesos per dollar on Wednesday, exceeding the upper limit of 1,474.345. However, the official trading system in Argentina only allows quotes in increments of 50 cents, so in practice, the Central Bank rounds off the upper limit number when calculating. In other words, the Central Bank considers 1,474.5 to be the upper limit, which means that from the Central Bank's perspective, the peso has not exceeded the range. According to the $20 billion agreement signed between Argentina and the IMF, once the upper limit is breached, the Central Bank, under President Milei's leadership, can directly intervene in the market by selling dollars.