U.S. Finalizes $20 Billion Currency Swap with Argentina

The United States sealed a significant $20 billion currency swap agreement with Argentina, purchasing Argentine pesos. This development followed high-level meetings between financial authorities of the two nations in Washington.

The Argentine peso showed signs of strengthening just before markets closed as the deal details emerged. Initial market reactions had been positive, but complete stability required detailed assurances about the deal.

Finance experts like Eduardo Ordonez Bueso and Jim Craige noted the critical nature of this agreement in stabilizing the Argentine economy, especially amid mounting concerns over volatility.

(With inputs from agencies.)