The Argentine peso is on pace for its biggest one-day gain in the parallel market since President Javier Milei took office as his government began to sell dollars in an effort to further tame inflation. Milei’s government started intervening in the parallel market to bridge the gap with the official rate, which is set at 922 pesos per dollar, and bring down inflation running at roughly 270 percent annually.
July 15, 2024
SOURCE: BUENOS AIRES TIMES
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Argentina parallel peso strengthens as Milei starts intervention