# Argentina economy snapshot: central bank dollar buying spree slows

> Argentina's central bank has bought over $17 billion of foreign currency since Milei took office on December 10 to rebuild reserves. The central bank needs dollars to pay creditors including the IMF.

- Date: 2024-06-12 · published 2024-06-12T12:00:00.000Z
- Category: macro · region Argentina · magnitude low
- Page: https://feedsoft.ai/events/30079-argentina-economy-snapshot-central-bank-dollar-buying-spree-slows
- Commodities: [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Reserve rebuilding affects how quickly Argentina lifts export-related FX constraints, which shapes farmer selling of soybeans and meal; the effect on prices is indirect.

## Read by commodity

- SBM: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBM | 2026-10-08 | [Argentina's two-speed economy deepens as peso appreciates and manufacturing collapses \| 24EcoNews](https://feedsoft.ai/events/17348-argentina-s-two-speed-economy-deepens-as-peso-appreciates-and-manufacturing.md) | +3.5% | -6.4% |
| SBM | 2018-08-31 | [Argentina peso firms as central bank intervenes, IMF voices support](https://feedsoft.ai/events/63818-argentina-peso-firms-as-central-bank-intervenes-imf-voices-support.md) | +4.2% | +1.3% |
| SBM | 2018-08-31 | [IMF vows ‘full support’ for Argentina amid economic crisis \| Business and Economy \| Al Jazeera](https://feedsoft.ai/events/63824-imf-vows-full-support-for-argentina-amid-economic-crisis-business-and-economy.md) | +4.2% | +1.3% |
| SBM | 2020-03-03 | [President Fernandez tries to slay Argentina’s inflation dragon \| Business and Economy \| Al Jazeera](https://feedsoft.ai/events/54375-president-fernandez-tries-to-slay-argentina-s-inflation-dragon-business-and.md) | -1.9% | +7.7% |
| SBM | 2018-12-20 | [Factbox: Four reasons why Argentina's economy buckled in 2018 \| Reuters](https://feedsoft.ai/events/61830-factbox-four-reasons-why-argentina-s-economy-buckled-in-2018-reuters.md) | -1.3% | +2.4% |

## Sources

- reuters.com: https://www.reuters.com/markets/emerging/argentina-economy-snapshot-central-bank-dollar-buying-spree-slows-2024-06-12/

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