Argentine Central Bank Calms Banks Amid Currency Volatility; Indian Rupee Surges; Paraguayan Dollar Rises Amidst Export Declines

In Argentina, the Central Bank reassured banks amidst a volatile week where the MEP dollar surged 5% before receding following a government decree. Despite the volatility, the Central Bank lost over $1 billion in reserves through interventions. Meanwhile, the Indian rupee experienced its best day in over a month, bolstered by dollar inflows and equity market gains, ending at 85.9725 against the U.S. dollar. In Paraguay, the dollar's exchange rate climbed to G. 7,950 in exchange houses and exceeded G. 8,000 in banks, driven by international trends, declining commodity prices, reduced exports due to drought, and increased import demand.