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Argentina's inflation is running at 211%, and the gap between the official and parallel dollar rates has reopened after narrowing sharply in December. Parallel-market dollars trade above 1,200 pesos against about 820 officially, a gap near 50%.
Markets expect another devaluation as the official crawling peg of about 2% a month lags monthly inflation above 25%.
A weaker peso can lower Argentine export prices in dollar terms and encourage farmers to sell soybeans and soy products, which can pressure meal and oil prices. Devaluation expectations also affect Argentine crush margins and export flows.
reuters.comJorge OtaolaJan 19, 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.
