China boosts Argentina's access to the yuan under currency deal as peso plummets

• China boosted Argentina's access to the yuan under a currency swap deal.
• Argentina's president said the country can now tap $6.5 billion worth of yuan, up from $5 billion.
• The move comes as Argentina seeks to prop up its peso, which has tumbled amid economic turmoil.

Argentina will have more access to Chinese yuan under a currency exchange deal to help prop up a plunging peso.

The boost is a part of a previous swap deal that was reached earlier in 2023 and marks the second time Argentina has tapped the Chinese central bank.