days Financial fluctuations Before the October elections, not one of the decisions adopted by the government in those days was abandoned. One of them Switch Which was agreed with the United States. accurately, The treasury of that country confirmed that the Central Bank had activated this mechanism with approximately 2,541 million US dollars.
“In October 2025, the US Treasury, through the Stabilization Fund, and the Central Bank of the Argentine Republic exchanged pesos for US$2.5 billion,” the administration stated. Donald Trump.
The document published by the US Treasury Department specified that this exact number reaches 2,541 million US dollars. In previous weeks, various Argentine economic consulting firms made estimates based on BCRA data about how many the first activation of the swap would reach. They estimated this at between US$2.5 billion and US$2.7 billion.
The US Treasury also determined that the Trump administration sold it to Javier Miley 641 million Special Drawing Rightsalso known as Special drawing rights (currency issued by the International Monetary Fund), vs 872 million US dollars.
The government in the first week of November It paid about $800 million To the International Monetary Fund, which included a transfer 585 million Special Drawing Rightsas published Nation.
According to International Monetary Fund data reported by the agency Bloomberg, Argentina increased its holding of Special Drawing Rights by 640.8 million SDRs (equivalent to approximately US$900 million), the same amount by which US possessions were reduced, which at that time had fueled the assumptions for activating the agreement. Switch.
A Switch It is a currency exchange, which, in this case, allows BCRA to receive dollars in exchange for pesos. If you activate it (use dollars), The central bank will pay a certain interest rate. The latter was not informed. This is one of the details that remains to be known regarding the implementation of this agreement.
A few days ago, the head of the Central Bank. Santiago BoselliI apologize for not notifying us of the new activation Switch Currencies agreed upon with the US Treasury. He explained that He did not do so “out of respect for confidentiality provisions.” From the agreement. “Movements are not reported because the market is judging you. It is wise.” He pointed out, before addressing the possibility of activating another section of Switch Onwards.
The US Treasury report did not specify Dates of the moment the BCRA activated Switch. It also does not indicate how much profit the Trump administration has made through this process.
“This has already been confirmed by the BCRA’s balance sheet, but this was the final confirmation,” the economist analyzed. Gabriel Camano Regarding the publication of the US Treasury report.
For her part, Sebastian Meniscaldifrom Eco Go, agreed and analyzed its use. “It allowed us to get to the elections without any surprises and the cost was not prohibitive,” he said. Moreover, he pointed out that Switch He is still available, given that he was signed for $20,000 million USD. So, eventually Argentina could use it on other occasions. He concluded by saying: “It is insurance that the United States will provide you, and there is a credit line for the country, which is important.”