The Banco Central de la República Argentina and the United States Treasury signed a USD 20 billion exchange rate stabilisation agreement, covering bilateral currency swap operations, on 20 October 2025.
PURPOSE OF THE AGREEMENT
The BCRA framed the agreement as part of a comprehensive strategy to enhance its ability to respond to foreign exchange and capital markets volatility.
The Banco Central de la República Argentina said the swap operations would allow it to expand its set of monetary and exchange rate policy instruments, including the liquidity of its international reserves. The central bank has not publicly disclosed the specific drawdown mechanics, pricing terms, or repayment schedule associated with the USD 20 billion facility, noting only that the agreement establishes the terms and conditions for bilateral currency swap operations and aims to contribute to Argentina's macroeconomic stability.