# Beginning of stage 3 of the economic program with relaxation of currency restrictions and an exchange rate to float within a band | BCRA

> Argentina's central bank launched stage 3 of its economic program, removing the 'blend' export exchange rate and lifting foreign exchange restrictions on individuals. The peso will float within a band of ARS1,000 to ARS1,400 per USD, with both limits widening 1% monthly. The bank also stopped financing the fiscal deficit by issuing pesos.

- Date: 2025-04-11 · published 2025-04-11T12:00:00.000Z
- Category: policy · region Argentina · magnitude medium
- Page: https://feedsoft.ai/events/25427-beginning-of-stage-3-of-the-economic-program-with-relaxation-of-currency
- 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

Removing the blend rate and export-proceeds restrictions changes the incentive to sell soybeans, meal and oil in Argentina, a major global supplier. Expected flow changes could move soymeal and soyoil export prices.

## Read by commodity

- SBM: neutral
- SBO: neutral
- USDARS: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBM | 2019-09-01 | [Measures to safeguard exchange rate stability and savers \| BCRA](https://feedsoft.ai/events/57370-measures-to-safeguard-exchange-rate-stability-and-savers-bcra.md) | -0.3% | +2.3% |
| SBM | 2024-04-11 | [BCRA's actions in view of the development of the economic context and liquidity conditions \| BCRA](https://feedsoft.ai/events/31026-bcra-and-apos-s-actions-in-view-of-the-development-of-the-economic-context-and.md) | +2.5% | +12.3% |
| SBM | 2021-02-19 | [Seven steps to curb deforestation and enhance forest protection: Looking beyond EU-only solutions](https://feedsoft.ai/events/48667-seven-steps-to-curb-deforestation-and-enhance-forest-protection-looking-beyond.md) | -0.7% | -7.2% |
| SBM | 2024-08-30 | ['Uncertainty' over government decision to postpone end of exchange restrictions - Buenos Aires Herald](https://feedsoft.ai/events/29080-uncertainty-over-government-decision-to-postpone-end-of-exchange-restrictions.md) | +3.0% | +4.7% |
| SBM | 2022-03-21 | [Strengthening the EU regulation on deforestation-free products – Global Canopy](https://feedsoft.ai/events/42305-strengthening-the-eu-regulation-on-deforestation-free-products-global-canopy.md) | +1.4% | -3.3% |
| SBO | 2019-07-29 | [Federal Register
       :: 
      Renewable Fuel Standard Program: Standards for 2020 and Biomass-Based Diesel Volume for 2021, Response to the Remand of the 2016 Standards, and Other Changes](https://feedsoft.ai/events/57954-federal-register-renewable-fuel-standard-program-standards-for-2020-and-biomass.md) | -1.0% | -0.5% |
| SBO | 2019-07-23 | [EU Communication (2019) on stepping up EU action to protect and restore the world’s forests - European Commission](https://feedsoft.ai/events/58112-eu-communication-2019-on-stepping-up-eu-action-to-protect-and-restore-the-world.md) | +2.5% | +3.4% |
| SBO | 2024-01-11 | [California’s Proposed Changes to Fuels Program Presents Mixed Bag for Soybeans - American Soybean Association](https://feedsoft.ai/events/15247-california-s-proposed-changes-to-fuels-program-presents-mixed-bag-for-soybeans.md) | +0.4% | -4.6% |

## Sources

- bcra.gob.ar: https://www.bcra.gob.ar/en/news/inicio-de-la-fase-3-del-programa-economico/

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