The Central Bank of the Argentine Republic (BCRA) acquired USD 82 million in the foreign exchange market on Friday, August 28, 2026, according to La Derecha Diario. With this purchase, the entity accumulates USD 14.049 billion so far this year, exceeding the floor of the annual reserve accumulation target, set between USD 10 billion and USD 17 billion, by more than USD 4 billion.
In parallel, the Executive Branch is advancing with a project to reform the BCRA Charter, according to the Presidency of the Nation. The official announcement of the draft is scheduled for the coming weeks and will then be sent to Congress.
The purchase of August 28 and the annual accumulation
According to La Derecha Diario, the purchase of USD 82 million on August 28 marked the 22nd consecutive trading day with a net buyer balance. In August, the BCRA accumulates an increase of USD 722 million. The source highlights that this occurs in a seasonal period in which the settlement of foreign currency traditionally slows down.
The accumulated USD 14.049 billion since January 2026, when the fourth phase of the monetary program was launched, exceeds the floor of the annual purchase target (USD 10 billion) by more than USD 4 billion. The original target, according to the same source, was set in a range of USD 10 billion to USD 17 billion.
The source indicates that the purchase target had already been reached in early June, despite the fact that in the first quarter, financial assistance to the Ministry of Economy was prioritized, which temporarily reduced the speed of foreign currency capture.
Gross reserves and the end-of-month accounting movement
Gross international reserves ended the week at USD 49.791 billion, with a daily decline of USD 1.069 billion. La Derecha Diario attributes this drop to a «purely technical and recurring accounting movement» at the end of the month, in which commercial banks adjust their liquidity positions and a portion of the foreign currency temporarily deposited in the BCRA leaves the records to return to the custody of private entities.
The source cites specialists who emphasize that «this phenomenon does not represent a real loss of foreign currency for the country nor a capital outflow, but rather a balance sheet movement.» It is anticipated that these holdings will return to official accounts in the first days of September.
Last Tuesday, gross reserves had climbed to USD 50.912 billion, the highest level of the Milei era, according to the same source. That record was bolstered by the appreciation of gold and the coverage of swap agreements with the United States and China.
The exchange rate and the reform of the Charter
On August 28, the wholesale dollar closed at $1,512, unchanged. The volume traded in the spot segment was USD 678.6 million. The retail dollar for the public closed at $1,535 for sale at Banco Nación, and the official average of the BCRA stood at $1,533.21 for sale and $1,480.11 for purchase.
The official wholesale exchange rate remained 24.1% below the upper band of the exchange rate scheme, whose ceiling was set at $1,876.50 at the beginning of 2026, according to La Derecha Diario.
Regarding the reform of the BCRA Charter, the Presidency of the Nation reported that President Javier Milei led a Cabinet meeting after the Te Deum for Independence Day, in which he provided details about the project. The official announcement of the draft is expected in the coming weeks, and it will then be sent to Congress. Participating in the meeting were the Chief of Cabinet, Diego Santilli; the Minister of Economy, Luis Caputo (according to the list of attendees, although he is not explicitly mentioned); the President of the BCRA, Santiago Bausili; and other officials.
Timeline of verifiable milestones
- January 2026: Start of the fourth phase of the monetary program, according to La Derecha Diario. The annual reserve accumulation target is set in a range of USD 10 billion to USD 17 billion.
- First quarter of 2026: The BCRA prioritizes financial assistance to the Ministry of Economy, which temporarily reduces the speed of foreign currency purchases.
- Early June 2026: The BCRA reaches the purchase target (floor of USD 10 billion) ahead of schedule, according to La Derecha Diario.
- Tuesday, August 25, 2026: Gross reserves climb to USD 50.912 billion, the highest level of the Milei era.
- Friday, August 28, 2026: The BCRA buys USD 82 million, accumulating USD 14.049 billion for the year and exceeding the target floor by more than USD 4 billion. Gross reserves close at USD 49.791 billion after an end-of-month accounting adjustment.
- Coming weeks (September 2026): Official announcement of the draft reform of the BCRA Charter, according to the Presidency of the Nation.
Value module: Comparison between the accumulated amount and the annual target
| Concept | Value |
|---|---|
| Accumulated purchases 2026 (as of 08/28) | USD 14.049 billion |
| Annual target floor | USD 10 billion |
| Difference | USD 4.049 billion |
| Percentage above the floor | 40.49% |
Document: La Derecha Diario, article of August 28, 2026.
Organization and date: BCRA, August 28, 2026.
Unit: US dollars.
Values used: Accumulated 2026: USD 14.049 billion; target floor: USD 10 billion.
Operation: Difference = 14.049 – 10.000 = 4.049 billion. Percentage = (4.049 / 10.000) * 100 = 40.49%.
What to follow
The data to follow is the official announcement of the draft reform of the BCRA Charter, scheduled for the coming weeks. It is also relevant to monitor whether the BCRA maintains the pace of purchases in September and whether gross reserves recover the record level after the end-of-month accounting adjustment.
Fuentes consultadas
- La Derecha Diario
- Argentina.gob.ar Fuente primaria
El Sereno contrastó las fuentes enlazadas y añadió contexto, comparación o análisis documental. Las fuentes primarias están identificadas. La nota no se presenta como investigación de campo ni como entrevista propia, salvo indicación expresa.
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