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Investing.com -- The United States Treasury has taken action to support Argentina’s currency by purchasing pesos in both the "Blue Chip Swap" and spot markets, Treasury Secretary Scott Bessent announced Friday.
In a statement posted on social media platform X, Bessent confirmed the Treasury’s intervention in Argentine currency markets that took place Thursday.
"The United States stands with Argentina," Bessent wrote, adding that the Treasury "remains in close communication with Argentina’s economic team as they work to Make Argentina Great Again."
The Treasury Secretary also indicated that his department is actively monitoring all markets and emphasized that the U.S. has "the capacity to act with flexibility and with force to stabilize Argentina."
This currency market intervention represents a significant show of support from the U.S. for Argentina’s economic stabilization efforts.
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