Citigroup dumps its pesos to Fed as Scott Bessent ramps up $20B Argentina rescue

Citigroup sold a massive batch of Argentine pesos to the Federal Reserve on Thursday, a decision tied to US Treasury Secretary Scott Bessent’s sweeping plan to steady Argentina’s collapsing currency and keep President Javier Milei’s administration from spinning out ahead of next week’s midterm vote. The transaction reportedly happened quietly with the Fed acting as […] source: https://www.cryptopolitan.com/citigroup-dumps-its-pesos-to-fed/