Hard to assess, since we don’t know how much was blown.

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Data as of noon (CT) 17 Oct 2025.Up is a depreciation.

Against a backdrop of Bessent arranging additional $20bn private funding (window dressing?), one wants to know how much of the US ESF is going to disappear. Mark Sobel has some views on the possible outcomes (and notes that the purported $20bn “swap” is not a swap in the commonly understood parlance).

My last question: Is Bessent the only person in the world who thinks the peso is undervalued?

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CPI deflated real value of the trade weighted Argentine peso; up is an appreciation. The peso has appreciated by 29% (log terms) since January 2024. As WSJ noted, most private sector economists view the peso as 20-35% overvalued.

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