Milei Team Seeks to Contain Speculation Over Exchange-Rate Band

Argentina will have a floating exchange rate “pretty soon” as its current trading band widens, according to President Javier Milei’s deregulation czar.

“The bands are opening up as we move along, actually pretty quickly. So Argentina is doing a transition to a floating exchange rate,” Federico Sturzenegger told the Bloomberg Global Regulatory Forum on Tuesday. “We’re going to have a floating exchange rate pretty soon.”

Since April, Argentina has let the peso float within a range as part of its agreement with the International Monetary Fund. However, authorities have intervened multiple times within the range, which expands in ...