Intervention in the foreign exchange market, Argentina's foreign exchange reserves have shrunk by 1 billion US dollars, Argentine President Mila noticed the "panic" caused by the selling of pesos by Argentine people.

According to reports, Argentine President Javier Milei has lost the trust of investors, a fact that he is well aware of. Day after day, investors continue to withdraw funds from Argentina, fearing that this impulsive and libertarian-minded president - despite presenting bold plans for economic restructuring - will, like many of his predecessors, abandon the defense of the peso and allow its exchange rate to collapse. Late on Friday, a local journalist stopped Milei for a brief interview, during which he said, "The market is in panic mode." On that day, Argentine Central Bank traders injected 678 million US dollars into the foreign exchange market, urgently hoping to meet the market's demand for hard currency and prevent the peso from collapsing. This brought the total intervention funds in three days to a whopping 11 billion US dollars. According to economists' best estimates, Argentina's liquid foreign exchange reserves are less than 20 billion US dollars, making such intervention unprecedented in the country. For Milei, the stability of his presidency depends on whether he can curb the vicious inflation that has long plagued the Argentine people, with a stable peso exchange rate being crucial. If the peso collapses, consumer prices will soar again, jeopardizing Milei's chances of maintaining the support needed to pursue his reform agenda. On Friday, he vowed to defend the peso at all costs, echoing the statements of his chief economic assistant the day before: "We will take all necessary measures to uphold the quality of life of the Argentine people."