Argentina Treasury intervenes to cap peso depreciation near band ceiling

Argentina's Treasury sold dollars on Friday to prevent the wholesale exchange rate from breaching the upper limit of its managed band, currently around 1525 pesos per dollar, with the scheme's maximum near 1900. This marks continued official intervention to defend the currency band, signaling persistent pressure on the peso and potential reserve depletion. The move underscores fragility in Argentina's external accounts and raises questions about the sustainability of the exchange-rate regime.