All articles tagged with #peso
US Treasury Secretary Scott Bessent's risky intervention in Argentina's currency market has been successful, with the US recovering its investment and no longer holding Argentine pesos in its stabilization fund, though challenges remain for Argentina's economy.
Skepticism is growing over the US Treasury's ability to secure a $20 billion financing deal for Argentina's economic rescue before a crucial midterm election, amid uncertainties about deal specifics and collateral, which is pressuring the Argentine peso and complicating stabilization efforts.
The US Treasury sold dollars through Banco Santander to support the Argentine peso as it neared its trading band limit, amid efforts to stabilize Argentina's economy ahead of midterm elections, including a $20 billion currency swap line and negotiations for additional support.
The U.S. Treasury, led by Scott Bessent, has purchased Argentine pesos and agreed on a $20 billion currency swap with Argentina's central bank to support the struggling economy and bolster President Milei's reform efforts, amid ongoing currency and market pressures.
The US Treasury has finalized a $20 billion currency swap with Argentina, buying pesos and supporting the country's financial stability amid economic challenges, which also aims to boost political prospects for Milei in upcoming elections. The move involves IMF cooperation and is seen as a significant intervention to prevent market collapse, though it faces political criticism in the US.
The US government purchased Argentine pesos and established a $20 billion currency swap line with Argentina's central bank, signaling support amid Argentina's recent IMF loan agreement and efforts to stabilize its economy.
Argentina's government sold over $450 million to support the peso, which has been declining for three days, despite US aid and capital restrictions, highlighting ongoing economic strain and limited maneuvering space for the authorities.
Argentina's central bank has sold over $1 billion in three days to support the peso amid a political crisis and declining investor confidence, raising concerns about the sustainability of its exchange rate policies and the country's economic stability.
Argentina has successfully auctioned $3.7 billion worth of peso-denominated debt, as the government seeks to bolster its finances amid an economic crisis exacerbated by the COVID-19 pandemic. The auction attracted strong demand from investors, with bids totaling more than double the amount on offer. The proceeds from the debt sale will help Argentina meet its financing needs and stabilize its currency.
Argentina's new government has devalued the peso by half and implemented spending cuts in an effort to revive the struggling economy. The move aims to address the country's high inflation and debt levels, but it also risks exacerbating the economic challenges faced by the Argentine people.