By Jorge Otaola

BUENOS AIRES (Reuters) -Argentine markets fell on Thursday as the government downplayed a central bank intervention the day before while facing heightened opposition to President Javier Milei’s agenda in Congress and on the streets as critical elections approach.

Pressure has mounted on Argentina’s peso as investors move to convert their holdings into dollars, with the local currency hitting a record low on the parallel exchange market after the central bank intervened in the wholesale currency market for the first time in five months.

Since April, when Argentina inked a $20 billion deal with the International Monetary Fund, the exchange rate has operated within a daily floating band, and the central bank must step in when the currency hits the upper or lower limits.

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