FX traders in Argentina estimate US Treasury sold over $200 million in currency
On Friday, the U.S. Treasury purchased more Argentine pesos than in any other session, according to traders, as the currency continued to depreciate despite American support.
Traders estimated that Secretary Scott Bessent’s Treasury sold more than US$200 million during the trading session Friday, with roughly half coming in the final 10 minutes, according to people with direct knowledge. That approximate figure wasn’t seen in prior sessions, at least in the official spot market, the people added, asking not to be named discussing specific transactions, News.Az reports citing foreign media.
The US Treasury Department’s press office didn’t respond to multiple requests for comment Friday on the scale of its peso purchases. Bessent disclosed earlier that the US had also bought pesos Thursday in Argentina’s parallel exchange rate known by investors as the “blue-chip swap.”
“Treasury is monitoring all markets, and we have the capacity to act with flexibility and with force to stabilise Argentina,” Bessent wrote on X Friday morning.
Similar news
