The Argentine government sold dollars in the foreign exchange market on Monday, according to two sources with direct knowledge of the matter. This marks the fifth consecutive trading day of intervention as the country attempts to halt the peso's decline.

The central bank executed the selling operations, though it frequently acts as the Treasury's financial agent in the local foreign exchange market.

According to the sources, Argentina's central bank sold between $450 million and $480 million at an exchange rate of 1,430 pesos per dollar. The sources requested anonymity as they were not authorized to speak publicly.

The Argentine peso fell 0.4% on Monday, closing at 1,430 pesos per dollar.

From Tuesday through Friday of last week, President Javier Milei's government sold an estimated $850 million to support the peso. This followed the government's previous expenditure of $1.1 billion to prop up the peso before markets calmed following U.S. Treasury Secretary Scott Bessent's promise of financial assistance last month.

Argentina's central bank declined to comment, while the Economy Ministry did not respond to requests for comment.