# Argentina's black market currency traders brace for uncertainty

> Argentina's strict capital controls keep official dollar access limited and have created parallel exchange rates where dollars trade at a large premium, above 900 pesos per dollar versus about 350 at the official rate. Black market traders are bracing for uncertainty ahead of the government transition.

- Date: 2023-11-20 · published 2023-11-20T12:00:00.000Z
- Category: macro · region Argentina · magnitude low
- Page: https://feedsoft.ai/events/33457-argentina-s-black-market-currency-traders-brace-for-uncertainty
- Commodities: [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Argentine Peso (ARS per USD)](https://feedsoft.ai/c/USDARS.md)

## Why it matters

Currency distortions weigh on Argentina's grain and oilseed sellers, who hold back sales when the exchange rate is uncertain, tightening export availability for soymeal and soyoil.

## Read by commodity

- SBM: bullish ▲
- USDARS: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBM | 2021-04-11 | [Argentine farmers, facing peso uncertainty, hoard soya despite high prices - Markets - Business Recorder](https://feedsoft.ai/events/47430-argentine-farmers-facing-peso-uncertainty-hoard-soya-despite-high-prices.md) | -0.1% | +8.2% |
| SBM | 2023-04-26 | [Argentina: A desperate search for a door as currency tumbles \| AP News](https://feedsoft.ai/events/36674-argentina-a-desperate-search-for-a-door-as-currency-tumbles-ap-news.md) | -1.9% | -7.0% |
| SBM | 2023-04-20 | [Argentine peso hits record low in black market as economy creaks](https://feedsoft.ai/events/36672-argentine-peso-hits-record-low-in-black-market-as-economy-creaks.md) | -5.0% | -6.4% |
| SBM | 2018-06-04 | [FoodFarmNews: China’s pig farmers plan to produce mega hog-farms to meet demands of world’s biggest pork market](https://feedsoft.ai/events/64512-foodfarmnews-china-s-pig-farmers-plan-to-produce-mega-hog-farms-to-meet-demands.md) | -4.4% | -11.1% |
| SBM | 2023-04-26 | [Muddle-through is not enough for Argentina as peso faces fresh pressure \| Financial Post](https://feedsoft.ai/events/36676-muddle-through-is-not-enough-for-argentina-as-peso-faces-fresh-pressure.md) | -1.9% | -7.0% |

## Sources

- reuters.com: https://www.reuters.com/markets/currencies/argentinas-black-market-currency-traders-brace-uncertainty-2023-11-20/

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