Its investors Argentinean increase the bets that President Javier Miley will underestimate the peso After the interim elections this month, as the government is exhausting its stocks to support the weak currency.
The Argentine Ministry of Finance intervened for a seventh consecutive meeting today Wednesday (8.10.2025), according to sources cited by Bloomberg. It had already sold about $ 1.5 billion in the previous six meetings, pushing the dollar to the market to boost the value of the peso.
In recent weeks, the government has intervened on various fronts to prevent further decline in the currency, restoring some controls on exchange rates and selling dollars to the market for future fulfillment. But the more the government has to do to support the peso, the more obvious it becomes that the current exchange rate is unsustainable, fueling the fall of the coin that the authorities are trying to stop.
“The market seems to foreseen a change in the currency regime the day after the election, which means that the closer to the date, the more pressure on the exchange rate is increasing,” said Santiago Resiko, an economist at the Stock Exchange One618. “The fact that the Treasury sells large quantities of dollars daily does not help.”
The government seeks to prevent the fall of the peso, which would feed inflation before the October 26 elections, in which half of Congress MPs will be highlighted. Miley must win the support of both bodies to promote his most demanding economic reforms.
The Central Bank, which spent $ 1.1 billion from its reserves last month to support the currency, is recently based on the Treasury available to keep it stable. Although the monetary authority can also intervene in the markets, it can only do so if the peso violates the trading range set out under the Argentine agreement with the International Monetary Fund.
The prospects for Argentina worsened after Miley’s heavy defeat in the local elections in the province of Buenos Aires in early September, amid growing economic problems and corruption scandals that tarnished the reputation of some of his closest allies. The promise for help from the US has helped to halt the fall, but did not overthrow the recession.