Argentina swaps BCRA debt for USD 2B dollar-linked bonds to boost FX intervention

Argentina's central bank (BCRA) is exchanging a Lecap maturing in October for up to USD 2 billion in dollar-linked bonds, a move to enhance its capacity to intervene in the financial market. The swap shifts debt exposure from fixed-rate to dollar-linked, signaling policy focus on managing FX expectations amid ongoing balance-of-payments pressures.