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Argentina's peso on the informal parallel market strengthened over 1.5% against the dollar on March 6, breaking back below 1,000 per dollar for the first time since late December. The move followed President Milei's pledge to press on with his austerity and pro-market agenda.
The gap with the official rate of 845 per dollar has narrowed sharply to under 18%.
Argentina is a major soymeal and soyoil exporter, and a stabilising peso can ease farmer selling pressure over time, though the direct effect on feed-ingredient prices is limited.
reuters.comJorge OtaolaMar 6, 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.
