Argentina Central Bank Steps Up Defense of Peso as Assets Slide

Argentina’s central bank stepped up its defense of the peso on Thursday as the country’s assets posted some of the worst losses in the world, adding to the growing pressure on President Javier Milei’s government.

The nation’s central bank was forced to intervene in the foreign exchange market for a second day, selling a significantly higher amount of dollars to keep the peso within the limit of the trading band agreed with the International Monetary Fund, according to people familiar with the matter. Thursday’s intervention is estimated by traders to be close $350 million, the people said, compared to ...