Milei Government Sells Dollars as Peso Drops for Third Day (1)

Argentina’s government sold dollars in the spot market on Wednesday to stem a slump in the peso that is now in its third day, according to two people with direct knowledge of the matter.

The government sold more than $450 million, one of the people said, limiting the drop in the peso to 3.1% against the dollar. The central bank was identified as the seller, but it often acts as the Treasury’s financial agent in the local currency market, the people added.

It’s the second day that President Javier Milei’s government has intervened in the spot market. On Tuesday, ...