Argentina’s peso is coming under attack again, forcing the government to intervene to keep it from plunging just days after a show of US support had propped up the country’s financial markets.
The currency fell more than six percent Tuesday, its biggest intraday drop since September 8, before the government sold dollars in the spot market. It closed 1.4 percent lower at 1,380.0 pesos per dollar. It’s not clear how much President Javier Milei’s administration sold.
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