Milei’s Government Sells Dollars as Peso Sinks Again (1)

Argentina’s peso is coming under attack again, forcing the government to intervene to keep it from plunging just days after a show of US support had propped up the country’s financial markets.

The currency fell more than 6% Tuesday, its biggest intraday drop since Sept. 8, before the government sold dollars in the spot market. It closed 1.4% lower at 1,380.0 pesos per dollar. It’s not clear how much President Javier Milei’s administration sold. The central bank declined to comment and the economy ministry didn’t reply to a request for information.

The second day of losses mark a sharp ...