The U.S. Treasury purchased Argentine pesos in the spot and “Blue Chip Swap” markets to stabilize Argentina, with a $20 billion swap and investment facility. IMF officials noted the U.S. support helped stabilize markets, as the peso weakened 3.4% to 1,450 per dollar. Forward prices show the peso at 1,446 for one-month non-deliverable contracts. The Treasury has not disclosed spending details.

Read more at Yahoo Finance: Bessent says US bought pesos again, currency slips