Peso Falls After US Treasury Intervenes Again
The US Treasury Secretary, Scott Bessent, announced that the United States bought the Argentine currency on the parallel exchange rate, known as the "blue chip swap".
The US bought the currency Thursday on the parallel exchange rate known among investors as the “blue chip swap”.
Despite this intervention, Argentina's peso opened lower on Friday. The US Treasury also made purchases at the official exchange rate in Argentina's local market. The peso weakened by as much as 3.4 percent on the official market and about one percent in blue chip swaps.
Author's summary: Peso falls despite US Treasury intervention.
- US Treasury Secretary: Scott Bessent
- Currency intervention: "blue chip swap" and official exchange rate
- Peso weakening: 3.4 percent on official market and one percent in blue chip swaps
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