Argentina Hands Its Central Bank US$2bn in Dollar-Linked Debt
Argentina’s Treasury gave the central bank up to US$2 billion of dollar-linked letters. It is not a currency swap and it does not change reserves. The post Argentina Hands Its Central Bank US$2bn in Dollar-Linked Debt appeared first on The Rio Times .
Argentina transferred $2 billion of dollar-linked securities from its Treasury to its central bank on 7 September 2026, marking a domestic debt exchange known as a "canje." The central bank handed over a peso-denominated Treasury letter maturing on 30 October 2026, known as Lecap S30O6, in exchange for two dollar-linked, zero-coupon letters.
The first, Lelink D30S6, is worth up to $800 million and matures on 30 September, while the second, Lelink D30O6, is worth up to $1.2 billion and matures on 30 October. This exchange enables the central bank to hold assets that pay out based on the exchange rate, rather than fixed pesos, allowing it to sell dollar-linked instruments in the secondary and futures markets to influence the exchange rate without touching its reserves.
No foreign counterparty was involved in the trade, and no dollars entered the country or reserves were added. The operation was executed through Resolution Conjunta 53/2026 of the finance and treasury secretariats and published in the official gazette on the same day.
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