Argentines scrambled Friday to buy dollars and household items as the peso depreciated against the greenback, despite multi-billion dollars of US support for the under-pressure currency.

The peso has been fluctuating wildly ahead of mid-term elections next week, disrupting the savings and spending plans of Argentines who fear it can lose even more value after the vote.

With the government of President Javier Milei under pressure, the peso opened at 1,465 to the dollar Friday morning, having closed at 1,430 the day before.

By mid-session, it was trading at 1,485 to the dollar — just three cents shy of the outer limit of the floating exchange rate band announced by the government.

This was despite US Treasury Secretary Scott Bessent on Wednesday announcing efforts to secure a new $20 bil

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