Argentines snapped up dollars and household items Friday as the peso depreciated against the greenback, despite multi-billion dollars of US support for the under-pressure currency.
The peso has been fluctuating wildly ahead of midterm elections next week, disrupting the savings and spending plans of locals who fear it can lose even more value after the vote.
With the government of President Javier Milei under pressure, the peso opened at 1,465 to the US dollar Friday morning, having closed at 1,430 the day before.
By mid-session, it was trading at 1,485 to the dollar – just three cents shy of the outer limit of the floating exchange rate band announced by the government.
This was despite
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