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Argentina's central bank will start selling US dollars in parallel FX markets from Monday to offset peso issuance from official dollar purchases. The government said the move is meant to combat inflation and freeze the money supply.
The official rate stood at 919.5 pesos per dollar, while the CCL rate was about 1,416.
The policy is aimed at stabilising the peso and reducing the parallel rate premium, which can affect Argentine export incentives for soymeal and corn. The price impact on feed markets is limited but could shift Argentine farmer selling behaviour.
reuters.comJul 13, 2024Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
