# Argentina black market peso back under 1,000 as Milei measures spur markets

> 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%.

- Date: 2024-03-06 · published 2024-03-06T12:00:00.000Z
- Category: macro · region Argentina · magnitude low
- Page: https://feedsoft.ai/events/31488-argentina-black-market-peso-back-under-1-000-as-milei-measures-spur-markets
- Commodities: [Argentine Peso (ARS per USD)](https://feedsoft.ai/c/USDARS.md)

## Why it matters

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.

## Read by commodity

- USDARS: bearish ▼

## Sources

- reuters.com: https://www.reuters.com/world/americas/argentina-black-market-peso-back-under-1000-milei-measures-spur-markets-2024-03-06/

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