Currencies

Argentina Let the Peso Plunge and Then Stepped In to Contain Losses

Currency prices displayed in a storefront in the financial district of Buenos Aires on Sept. 8.Photographer: Tomas Cuesta/Bloomberg

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By Ignacio Olivera Doll and Nicolle Yapur

September 12, 2025 at 12:57 PM UTC

Updated on

September 12, 2025 at 3:58 PM UTC

Lea en español

President Javier Milei’s administration unexpectedly allowed the peso to weaken this week, while simultaneously moving to prevent the rush out of the currency from turning into a stampede that would reignite inflation.