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Argentina's black market peso fell 5.6% on Wednesday to a record low of 1,250 per dollar, pushing its gap to the official rate above 50%. The official rate near 819 is held in place by strict capital controls.
A move letting importers settle Bopreal bond payments through parallel markets added pressure.
Currency stress in Argentina, a major soymeal and soyoil exporter, can shift export pricing and farmer selling behavior, which feeds into global meal and oil price expectations.
reuters.comJorge OtaolaJan 17, 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.
