# Argentina’s new bid to ‘sterilize’ peso emissions lowers parallel dollar rates… now what? - Buenos Aires Herald

> Parallel dollar rates fell after Argentina began selling dollars in financial markets to absorb peso emissions. The blue dollar dropped about 6.3% from 1,500 to 1,415 pesos, and the blue-chip swap rate fell nearly 10%. Analysts disagree on whether the scheme will stabilise FX long term, and critics warn it depletes central bank reserves.

- Date: 2024-07-16 · published 2024-07-16T12:00:00.000Z
- Category: macro · region Argentina · magnitude low
- Page: https://feedsoft.ai/events/29583-argentina-s-new-bid-to-sterilize-peso-emissions-lowers-parallel-dollar-rates
- Commodities: [Argentine Peso (ARS per USD)](https://feedsoft.ai/c/USDARS.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Reserve depletion raises doubts about Argentina's ability to keep importing and exporting smoothly, which matters for soymeal and corn trade flows. The effect on global feed prices is small in the near term.

## Read by commodity

- SBM: neutral
- USDARS: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBM | 2025-07-31 | [U.S. dollar exchange rate in Argentina hits all-time high of AR$1,380 - Buenos Aires Herald](https://feedsoft.ai/events/24045-u-s-dollar-exchange-rate-in-argentina-hits-all-time-high-of-ar-1-380-buenos.md) | +2.6% | +11.0% |
| SBM | 2024-12-11 | [Exchange rate gap drops to 4%, a record low - Buenos Aires Herald](https://feedsoft.ai/events/27240-exchange-rate-gap-drops-to-4-a-record-low-buenos-aires-herald.md) | -0.6% | +1.2% |
| SBM | 2024-06-25 | [Milei’s push to rebuild Argentina’s foreign reserves grinds to a halt \| Buenos Aires Times](https://feedsoft.ai/events/30075-milei-s-push-to-rebuild-argentina-s-foreign-reserves-grinds-to-a-halt-buenos.md) | -1.8% | -7.4% |
| SBM | 2026-08-28 | [Exchange rate heats up to close August. Is Milei changing strategies? - Buenos Aires Herald](https://feedsoft.ai/events/18167-exchange-rate-heats-up-to-close-august-is-milei-changing-strategies-buenos.md) | +2.5% | +9.1% |
| SBM | 2025-04-18 | [First week without the cepo: dollar rises and falls, impact on prices remains unclear - Buenos Aires Herald](https://feedsoft.ai/events/25433-first-week-without-the-cepo-dollar-rises-and-falls-impact-on-prices-remains.md) | -1.6% | -2.0% |

## Sources

- buenosairesherald.com: https://buenosairesherald.com/economics/argentinas-new-bid-to-sterilize-peso-emissions-lowers-parallel-dollar-rates-now-what

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