Argentina’s Central Bank stepped up its defence of the peso on Thursday as the country’s assets posted some of the worst losses in the world, adding to the growing pressure on President Javier Milei’s government. As estimates spread through the market, dollar bonds extended an earlier slump, leading losses in emerging markets. The official peso closed at 1,474.5 per dollar on the local market, just below the upper limit. “The Central Bank will never have a problem responding when the upper limit of the band is reached,” Milei’s spokesman Manuel Adorni told journalists at a press conference Thursday. The peso’s upper limit for Thursday is 1,474.83, but the nation’s official trading system only allows bids in 50-cent increments, so for practical purposes the central bank rounds off the number.