# Argentine black market peso hits record low as Milei rally falters

> Argentina's black market peso fell 3.91% against the dollar on Wednesday, hitting a record low of 1,280 per dollar. The informal rate has pulled away from the official rate, with the gap widening to about 44%. Traders attributed the move to political tensions, slow farm sales and the central bank's rate cut to 40% from 50%.

- Date: 2024-05-22 · published 2024-05-22T12:00:00.000Z
- Category: macro · region Argentina · magnitude medium
- Page: https://feedsoft.ai/events/30544-argentine-black-market-peso-hits-record-low-as-milei-rally-falters
- Commodities: [Argentine Peso (ARS per USD)](https://feedsoft.ai/c/USDARS.md)

## Why it matters

A weaker peso slows Argentina's farm sales and cuts the dollar value of its grain and meal exports, which can tighten or loosen global protein supply. Currency stress also raises the risk of policy shifts that affect Argentine export flows.

## Read by commodity

- USDARS: bullish ▲

## Sources

- reuters.com: https://www.reuters.com/markets/currencies/argentine-black-market-peso-hits-record-low-milei-rally-falters-2024-05-22/

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