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Argentina's crawling-peg policy has kept the peso depreciating at only 2% per month while monthly inflation runs at 10-20%. Accumulated inflation of 65% through April has made Argentine goods far more expensive in dollar terms.
Analysts argue the peso is overvalued and call for another devaluation.
An overvalued peso makes Argentine exports less competitive, which can support international prices for Argentine grain and meal as buyers look to other origins. A future devaluation would reverse that and could pressure world prices.
reuters.comDaniela Desantis, Lucinda ElliottMay 27, 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.
