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Argentina Dollar Intervention: Market Liquidity Boost

by Priya Shah – Business Editor

Argentina Intervenes in Foreign Exchange Market ​as Dollar Hits Record High

Buenos Aires, Argentina ⁤ – ⁤Argentina’s ‍National Treasury announced Tuesday‍ it will directly intervene in the foreign exchange market to stabilize the plummeting⁢ peso, following a record high for ⁣the​ US dollar.⁢ The move comes ⁤as political and ⁣economic uncertainty ⁢fuels demand for foreign currency.According to official figures, ⁢the US dollar⁤ closed at 1,385 pesos ⁢for sale to‍ the public on⁤ Monday – a new peak in the official market.

“The National Treasury announces that ​from today it will participate in the free market, in order to contribute⁣ to its liquidity and ⁤normal operation,” stated Argentine Finance Secretary Pablo quirno via social media platform X.

The intervention, authorized by President Javier Milei, reflects ⁢the government’s attempt to curb the escalating value of the dollar amidst ongoing ⁤economic headwinds. The governance hopes direct ‍participation will bolster market ⁢liquidity and restore⁤ a degree of stability.

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