Argentina Sells Dollars for Fifth Day, Straining Reserves (2)

Argentina’s government sold dollars in the foreign-exchange market Monday for a fifth straight session as it tries to stem a slide in the peso, according to two people with direct knowledge of the matter.

The central bank carried out the sales, likely acting as the Treasury’s financial agent in the local currency market. It sold between $450 million and $480 million at around 1,430 pesos per dollar, the people said, asking not to be identified discussing confidential operations. The peso weakened 0.4% to close at that level.

President Javier Milei’s administration has sold an estimated $1.3 billion since ...