Argentina spends $1bn to defend peso as President Javier Milei’s crisis spirals
Monetary authority intervenes in currency market for third time this week, selling $678mn on Friday
Monetary authority intervenes in currency market for third time this week, selling $678mn on Friday

Changes aim to build reserves and quell investor concern about President Javier Milei’s economic policy

Doubts return over future of Javier Milei’s controlled exchange rate policy

Currency gains sparked by estimated $400mn of US purchases melt away ahead of election for president Javier Milei

Forward contracts indicate a 12% decline for currency despite $40bn US support package

Buenos Aires hands back $2.5bn it drew under swap line ahead of pivotal election in October

After sky-high inflation, currency crises and failed reform plans, the country was never going to find a quick fix