# The BCRA runs an export-dollar blend to accumulate reserves

Date: 2024

## The fact

In 2024 the BCRA ran an export-dollar blend (dólar blend/exportador) to accumulate reserves under Milei-Caputo.

## Context

Neighbouring surplus is the fiscal cousin. Neighbouring cepo 2025 is later easing. He did not sit as every exporter.

Surplus 2024 is neighbouring. Cepo easing 2025 is later. Devaluation 2023 is the parent shock.

The President of Argentina heads the federal executive, issues decrees of necessity and urgency subject to congressional review, and appoints the cabinet. He does not write INDEC prints, an IMF board decision, a [US Treasury](/organizations/us-treasury) backstop, or a Central Bank balance sheet by himself. Congress, governors, the BCRA, and coalition deputies share specific files. Dollarisation announced is not dollarisation completed.

## Evidence and sources

Central Bank of Argentina carries the official instrument or communique. Reuters records the same dated act independently.

## Significance

The path is energy-adjacent reserves and fiscal: a completed blend scheme is a dated reserve-accumulation instrument.

## What is established and what is not

Established: 2024 BCRA export-dollar blend, independently reported.

Not established: that cepo had already ended, or a unique later harvest coefficient from August.

What would change the picture: a contradictory original with a different date or name, a later repeal, a court that vacated the instrument, or a measured series that can be argued, with lag and alternatives, as a consequence of this instrument rather than of later institutions.

The date is the date of this instrument, not a licence to back-date every later harm or benefit.

[Caputo](/people/luis-caputo) owned the programme. He set the political weather. Exporters used the window.. A later repeal, court stay, or successor order would be a different Fact with a different date. That pair identifies The BCRA runs an export-dollar blend to accumulate reserves, not a later speech about The BCRA runs an export-dollar blend to accumulate reserves.

Co-authors and later implementers named in Context remain on the file. The BCRA runs an export-dollar blend to accumulate reserves on 2024-08-01 is not a licence to treat every later Central Bank of Argentina communique as this same act. If a later repeal, stay, or successor instrument exists, it needs its own date and its own row. This dossier refuses to average The BCRA runs an export-dollar blend to accumulate reserves into a personality. The contribution described on this Person row is limited to The BCRA designed the blend. Caputo owned the programme. He set the political weather. Exporters used the window. That limit is the alternative to treating office-holding as authorship of every later series.

## People

- Javier Milei: https://factrail.ai/people/javier-milei

## Drivers

- Banking-System Stability: https://factrail.ai/drivers/banking-system-stability
- Energy Security: https://factrail.ai/drivers/energy-security

## Sources

- https://www.reuters.com/world/americas/argentina-bcra-export-dollar-blend-2024-08-01/
- https://www.bcra.gob.ar/

## Methodology

https://factrail.ai/methodology

Canonical: https://factrail.ai/facts/ar-blend-2024