Currencies

Down $1 Billion, Milei Detects ‘Panic’ as Argentines Dump Peso

Luis Caputo leaves the Casa Rosada after a cabinet meeting in Buenos Aires on Sept. 8. — Luis Caputo leaves the Casa Rosada after a cabinet meeting in Buenos Aires on Sept. 8.
Photographer: Tomas Cuesta/Bloomberg

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By Manuela Tobias, Vinicius Andrade, and Ignacio Olivera Doll

September 19, 2025 at 4:02 PM UTC

Updated on

September 19, 2025 at 11:06 PM UTC

Lea en español

Javier Milei has lost the confidence of investors and he knows it. Day after day, they have yanked their money out of Argentina, fearful that Milei, the brash, libertarian president with the bold plan to fix the economy, will scrap his defense of the peso and let it plunge as so many of his predecessors have done.