Milei Taps Strong-Peso Toolkit Ahead of Key Vote: Shock Therapy

Five months ahead of crucial midterm elections in Argentina, the peso has become the cornerstone of Javier Milei’s campaign strategy.

The libertarian president views the currency as a key tool to lower inflation and boost his party’s chances in the October vote, instructing his aides to pursue bold measures that will drive up the value of the peso.

Milei in recent weeks unveiled a band in which the peso will trade after partially lifting currency controls for individuals. Since April 14, the currency has traded below the midpoint of the band — set initially between 1,000 and 1,400 pesos ...