Argentina Peso Slumps as US Fails to Dispel Devaluation Fear

The Central Bank of Argentina in the financial district of Buenos Aires.
Photographer: Anita Pouchard Serra/Bloomberg

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By Patrick Gillespie and Nicolle Yapur

October 17, 2025 at 12:58 PM UTC

Updated on

October 17, 2025 at 6:39 PM UTC

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A slump in Argentina’s peso accelerated Friday even after the US said it continued to buy the currency, stoking doubts that the Trump administration’s $20 billion rescue will be able to prevent President Javier Milei from ushering in another painful devaluation.