Yesterday, @BancoCentral_AR sold $1.5 billion to prop up the peso and control inflation, its largest intervention in at least 15 years, @reuters reports. https://reut.rs/2I06gn6 #Argentina
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Gross international reserves at @BancoCentral_AR stand at $61.2 billion, compared to $25 billion when @mauriciomacri took office. But in a recent analysis, @jpmorgan warned that the defense of the peso was "unsustainable," estimating that "intervention firepower" was limited.