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Bessent says US bought pesos again, currency dips
Yahoo Financeยท 2025-10-17 15:54
Group 1 - The U.S. Treasury has begun purchasing Argentine pesos in both the "Blue Chip Swap" and spot markets to stabilize the currency [1] - Treasury Secretary Scott Bessent emphasized the Treasury's capacity to act flexibly and forcefully in monitoring and stabilizing Argentina's markets [1] - This marks the first announcement of U.S. participation in the "blue" market, following previous discussions about buying pesos in the open market [1] Group 2 - Both the "blue" peso and the official peso weakened, with the official currency declining by 2.8% to 1,441 per dollar and the blue peso decreasing by 0.3% to 1,450 [2] - One-month nondeliverable forwards for the peso are priced at 1,446, having peaked at 1,541 earlier in the month, while three-month forwards project the peso to be just below 1,700 [2] - The Treasury has not disclosed the amount spent on purchasing pesos or whether these purchases will follow a specific schedule [2]