Treasury Sells Dollars to Keep Argentine Peso Within FX Band
The US Treasury has intervened in Argentina's currency market by selling dollars through Banco Santander, as the Argentine peso approached the upper limit of its trading band. This is the latest in a series of actions taken by the Treasury to keep the peso within its designated exchange rate range. The intervention aims to stabilize the peso and prevent it from breaching the established band, which is a policy measure implemented by the Argentine government to manage currency fluctuations. The decision to sell dollars reflects the Treasury's efforts to support the peso and maintain economic stability in Argentina. The details of the exact amount sold or the specific timing of the intervention were not disclosed by the sources familiar with the matter.
Source: For the complete article, please visit the original source link below.
