Reported about 22 hours ago
The US Treasury has reportedly spent over $1 billion this month to acquire Argentine pesos as Secretary Scott Bessent seeks to stabilize the currency ahead of the upcoming midterm elections. Estimates suggest the total could be as high as $1.7 billion, although official figures are still pending. Meanwhile, Argentina's economy faces uncertainty with the peso already depreciating by 21% in the past four months, prompting concerns about political risks as the election approaches.
Source: YAHOO