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Argentina's $450 Million Peso Rescue Amid Dollar Surge

10/3/2025

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Summary

Story summary

Argentina's government sold over $450 million in the currency market to stabilize the peso, which fell 3.1% against the dollar.
This intervention by President Javier Milei's administration marks the second consecutive day of action due to rising dollar demand.
Central Bank reserves increased by $1.9 billion to $42.2 billion, though restrictions limit further interventions.
The IMF noted the dollar's share in foreign central bank reserves dropped to 56.3%, the lowest since 1995.
The euro's share of global reserves rose to 21%, despite a decline in total holdings.

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Story summary

Argentina's government sold over $450 million in the currency market to stabilize the peso, which fell 3.1% against the dollar.
This intervention by President Javier Milei's administration marks the second consecutive day of action due to rising dollar demand.
Central Bank reserves increased by $1.9 billion to $42.2 billion, though restrictions limit further interventions.
The IMF noted the dollar's share in foreign central bank reserves dropped to 56.3%, the lowest since 1995.
The euro's share of global reserves rose to 21%, despite a decline in total holdings.