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Argentina's central bank will sell US dollars in parallel currency markets from Monday to shore up the peso, whose unofficial rate has weakened over 30% this year. Economy Minister Luis Caputo described the move as a deepening of the monetary framework.
The official rate is 919 per dollar, while a parallel rate closed at 1,405.
The move is aimed at narrowing the gap between official and parallel FX rates, which affects Argentine exporter margins for soymeal and corn. Global feed price impact is modest.
batimes.com.arJames GraingerJul 14, 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.
