Supporting the peso, the Central Bank of Argentina sold $1.1 billion in foreign exchange reserves over three days.

According to a report by the Global Times citing the Financial Times on the 20th, "Amid President Milei's escalating political crisis, the Argentine Central Bank has spent $1 billion to defend the peso exchange rate." The Argentine Central Bank has sold over $1 billion in foreign exchange reserves in three days to support the peso. Official data shows that the Argentine Central Bank sold $678 million in hard currency reserves last Friday, setting a record for the highest single-day sales since October 2019. Faced with the continued sharp decline of the Argentine peso exchange rate, the institution sold $379 million and $53 million in hard currency reserves last Thursday and Wednesday respectively. Argentine Economy Minister Luis Caputo told the media last Thursday that they will "sell up to the last dollar" to defend the peso exchange rate range. However, accelerating the sale of dollars still raises doubts among investors about Milei's ability to maintain the current exchange rate mechanism.