On Monday, the dollar hit a low of $1,390 at Banco Nación, but this downward trend was interrupted on Tuesday, with the currency experiencing daily increases thereafter, beginning Friday at $1,425 and climbing to $1,430. As the dollar rose, interest rates decreased significantly, dropping from 36% to 22% within a week. Analysts noted changes in the monetary data released by the Central Bank, indicating that the Treasury intervened in the currency exchange market.

According to brokerage firm PPI, the Central Bank is not the only entity participating in the foreign exchange market; they highlighted that monetary data as of February 23 confirmed the Treasury's purchase of $132 million in the Multiple Exchange Market (MULC). This intervention not only influenced currency valuations but also resulted in a significant increase in the Treasury's dollar deposits at the Central Bank, rising by $119 million. However, preliminary data for February 24 suggested a shift, showing a drop in foreign currency deposits of $72 million, sparking concerns over the effectiveness of the Treasury's intervention.

The actions of the Treasury and the Central Bank reflect an ongoing effort to stabilize the volatile exchange rate in Argentina, which has been under pressure due to various economic challenges. These interventions come amidst a backdrop of fluctuating deposit figures and declining interest rates, raising important questions about the sustainability of these measures and their long-term implications for Argentina's economy. Analysts will be closely monitoring the situation as the government attempts to navigate these complex financial dynamics while trying to maintain confidence among investors and citizens alike.