Reported 3 days ago
Traders have estimated that the US Treasury sold over $200 million in Argentine pesos in an effort to stabilize the currency, which has been losing value despite American support. This significant sale occurred ahead of Argentina's midterm elections, as the US aims to prevent further devaluation. Secretary Scott Bessent noted that the Treasury has the ability to act flexibly to support the Argentine economy, which is facing challenges amidst growing dollar demand from citizens.
Source: YAHOO