# Argentine Peso Posts Worst Month Since Milei’s 2023 Devaluation

> Argentina's peso fell more than 4.4% on Thursday, the worst performer among emerging-market currencies. The currency lost more than 12% in July, its worst monthly decline since Milei devalued it after taking office in December 2023. Demand for dollars rose just as agricultural export supply dried up.

- Date: 2025-08-01 · published 2025-08-01T12:00:00.000Z
- Category: macro · region Argentina · magnitude medium
- Page: https://feedsoft.ai/events/24044-argentine-peso-posts-worst-month-since-milei-s-2023-devaluation
- Commodities: [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Argentine Peso (ARS per USD)](https://feedsoft.ai/c/USDARS.md)

## Why it matters

Agricultural export dollar inflows are a key source of supply in Argentina; when they slow, the peso weakens and exporters may hold back sales, which can tighten global supply of soybean meal and oil and support prices.

## Read by commodity

- SBM: bullish ▲
- SBO: bullish ▲
- USDARS: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBM | 2022-06-29 | [Three Signs Show That Argentina Is Heading to a Devaluation - Bloomberg](https://feedsoft.ai/events/41226-three-signs-show-that-argentina-is-heading-to-a-devaluation-bloomberg.md) | -1.1% | +3.0% |
| SBM | 2018-05-21 | [What multinationals should monitor in the aftermath of Argentina’s peso crash](https://feedsoft.ai/events/65313-what-multinationals-should-monitor-in-the-aftermath-of-argentina-s-peso-crash.md) | +1.1% | -10.8% |
| SBM | 2023-03-31 | [Argentina's dollars drain fastest since 2019 as IMF decision looms \| Kitco News](https://feedsoft.ai/events/37154-argentina-and-apos-s-dollars-drain-fastest-since-2019-as-imf-decision-looms.md) | -0.7% | -3.8% |
| SBM | 2019-08-12 | [Argentina farmers digest primary election shock, wait to export despite weaker peso](https://feedsoft.ai/events/57427-argentina-farmers-digest-primary-election-shock-wait-to-export-despite-weaker.md) | -0.6% | -2.8% |
| SBM | 2021-04-11 | [Argentine farmers, facing peso uncertainty, hoard soya despite high prices - Markets - Business Recorder](https://feedsoft.ai/events/47430-argentine-farmers-facing-peso-uncertainty-hoard-soya-despite-high-prices.md) | -0.1% | +8.2% |
| SBO | 2023-03-31 | [Argentina's dollars drain fastest since 2019 as IMF decision looms \| Kitco News](https://feedsoft.ai/events/37154-argentina-and-apos-s-dollars-drain-fastest-since-2019-as-imf-decision-looms.md) | +2.1% | -3.4% |
| SBO | 2023-04-03 | [Palm posts biggest jump in two months after crude oil rally - Markets - Business Recorder](https://feedsoft.ai/events/36512-palm-posts-biggest-jump-in-two-months-after-crude-oil-rally-markets-business.md) | -2.4% | -7.0% |
| SBO | 2023-03-22 | [Argentina drought saps dollar reserves, pressuring FX crawling peg](https://feedsoft.ai/events/37153-argentina-drought-saps-dollar-reserves-pressuring-fx-crawling-peg.md) | -3.2% | -4.4% |

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2025-07-31/argentine-peso-posts-worst-month-since-milei-s-2023-devaluation

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.