BUENOS AIRES—Argentina’s peso snapped its losing streak on Tuesday, closing 3.73 percent stronger at 24.10 per U.S. dollar after the central bank sold reserves but before the government reported 12-month inflation at a dizzying 25.5 percent.
The bank said it sold $791 million in the spot market to support the local currency on Tuesday. It has already sold billions of dollars of reserves on previous interventions and hiked interest rates to 40 percent.
