Milei Runs Short of Dollars as Argentina Awaits US Lifeline (1)

Argentina’s Treasury is burning through its dollar deposits to prop up the peso, with traders estimating it has as little as $700 million left in its coffers.

On Tuesday, President Javier Milei’s administration sold dollars for a sixth straight session. It’s estimated to have spent between $250 million and $330 million to leave the peso almost unchanged on the day. That brings the total amount sold over the past six sessions to at least $1.5 billion.

The central bank also has dollars it can deploy — roughly $10 billion, according to private estimates — but it faces more restrictions ...