# Javier Milei Sparks Wild Rally That Makes Peso No. 1 in World - Bloomberg

> Argentine President Javier Milei has stabilized the peso, which has stopped its daily plunge. In the blue-chip swap market the currency has risen about 25% against the dollar over three months, more than any of the 148 currencies Bloomberg tracks.

- Date: 2024-04-25 · published 2024-04-25T12:00:00.000Z
- Category: macro · region Argentina · magnitude low
- Page: https://feedsoft.ai/events/31024-javier-milei-sparks-wild-rally-that-makes-peso-no-1-in-world-bloomberg
- Commodities: [Argentine Peso (ARS per USD)](https://feedsoft.ai/c/USDARS.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

A stronger peso reduces Argentina's import costs and eases inflation pressure, while softening the pull on export farmers to sell soy and corn for dollars. Feed buyers may see slightly more Argentine soymeal and corn supply pressure as local prices weaken in dollar terms.

## Read by commodity

- SBM: neutral
- USDARS: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBM | 2024-07-16 | [Argentina’s new bid to ‘sterilize’ peso emissions lowers parallel dollar rates… now what? - Buenos Aires Herald](https://feedsoft.ai/events/29583-argentina-s-new-bid-to-sterilize-peso-emissions-lowers-parallel-dollar-rates.md) | +2.6% | -3.5% |
| SBM | 2019-07-26 | [Volatility Is Back in Argentina as Election Jitters Take Toll - Bloomberg](https://feedsoft.ai/events/58358-volatility-is-back-in-argentina-as-election-jitters-take-toll-bloomberg.md) | -3.5% | -3.4% |
| SBM | 2017-09-03 | [Argentina's Mauricio Macri puts bad days in the rearview mirror, but a familiar foe looms](https://feedsoft.ai/events/69215-argentina-s-mauricio-macri-puts-bad-days-in-the-rearview-mirror-but-a-familiar.md) | +1.9% | +5.4% |
| SBM | 2025-04-23 | [Milei Defies Forecasts So Far as Argentina’s Peso Strengthens](https://feedsoft.ai/events/25430-milei-defies-forecasts-so-far-as-argentina-s-peso-strengthens.md) | -1.0% | -1.0% |
| 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% |

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2024-04-25/javier-milei-sparks-wild-rally-that-makes-peso-no-1-in-world

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