Argentina Sells Dollars for Fifth Day, Straining Reserves

Argentina's government has been actively selling dollars in the foreign-exchange market for the past five days in an effort to stabilize the peso, the country's currency. This intervention is straining the country's foreign exchange reserves, which are a crucial resource for maintaining economic stability. The decision to sell dollars comes as the peso has been experiencing a significant decline, raising concerns about the country's economic situation. By selling dollars, the government aims to increase the supply of the local currency in the market and prevent further depreciation. However, this strategy is putting a strain on Argentina's foreign exchange reserves, which are a critical buffer against economic shocks and help maintain the country's creditworthiness. The government's actions highlight the challenges it is facing in managing the economy and maintaining financial stability during these turbulent times.