Argentina's Ministry of Finance sold the US dollar on Friday. The move was to limit the depreciation of the peso on the first day of the entry into force of new regulations that allow greater exchange rate fluctuations. Traders estimate that the scale of this US dollar sell-off is between 150 million and 200 million US dollars. This Friday is the first trading day of the Argentine New Year. It is also the day when its new foreign exchange range mechanism was officially implemented. On that day, the peso exchange rate against the US dollar fell 1.4% to 1,475 pesos per US dollar. In December of last year, the Argentine government announced this new exchange rate framework. According to the new regulations, the peso's trading range will expand simultaneously in accordance with the monthly inflation rate, and will no longer follow the previous limit of 1% of the monthly fluctuation limit. Right now, Argentina has only a few days left until the US dollar bond repayment date of January 9.

Argentina's Ministry of Finance sold the US dollar on Friday. The move was to limit the depreciation of the peso on the first day of the entry into force of new regulations that allow greater exchange rate fluctuations. Traders estimate that the scale of this US dollar sell-off is between 150 million and 200 million US dollars. This Friday is the first trading day of the Argentine New Year. It is also the day when its new foreign exchange range mechanism was officially implemented. On that day, the peso exchange rate against the US dollar fell 1.4% to 1,475 pesos per US dollar. In December of last year, the Argentine government announced this new exchange rate framework. According to the new regulations, the peso's trading range will expand simultaneously in accordance with the monthly inflation rate, and will no longer follow the previous limit of 1% of the monthly fluctuation limit. Right now, Argentina has only a few days left until the US dollar bond repayment date of January 9.