US Sees Modest Gain from Argentina Bailout
As the Argentine peso rallies, the US reports a small gain from its rescue efforts.
The US intervened in the currency market this month, but has not disclosed the details. According to reports, the US Treasury is likely ahead by about 1-2% on its recent peso purchases.
US President Donald Trump said the United States "made a lot of money" by bailing out Argentina.
The US started buying pesos after global investors and local residents dumped the currency, speculating that voters would reject Argentina President Javier Milei's free-market economic agenda. However, Milei secured a surprisingly large victory in Sunday's legislative elections, leading to a market rally.
Author's summary: US sees modest gain from Argentina bailout.
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