# Argentina restarts 'crawling peg' to let currency weaken for first time since August | Reuters

> Argentina's central bank reactivated its crawling peg, allowing the peso to weaken slightly to 353 per dollar after it had been frozen at 350 since mid-August. The currency has been subject to varying capital controls since 2019.

- Date: 2023-11-15 · published 2023-11-15T12:00:00.000Z
- Category: policy · region Argentina · magnitude low
- Page: https://feedsoft.ai/events/33460-argentina-restarts-crawling-peg-to-let-currency-weaken-for-first-time-since
- Commodities: [Argentine Peso (ARS per USD)](https://feedsoft.ai/c/USDARS.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

A controlled peso depreciation modestly improves the peso cost of exports, which can encourage farmer selling, but the effect on world feed prices is small.

## Read by commodity

- SBM: neutral
- USDARS: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBM | 2025-12-15 | [ARS/USD: Argentina to Loosen Its Currency Policy and Build Reserves - Bloomberg](https://feedsoft.ai/events/21798-ars-usd-argentina-to-loosen-its-currency-policy-and-build-reserves-bloomberg.md) | -0.7% | -3.4% |
| SBM | 2022-10-19 | [In Argentina, controls spawn soybean and 'Netflix' currency rates \| Reuters](https://feedsoft.ai/events/14002-in-argentina-controls-spawn-soybean-and-netflix-currency-rates-reuters.md) | +3.0% | +1.2% |
| SBM | 2024-09-16 | [Argentina's draft 2025 budget foresees 5% GDP growth \| Reuters](https://feedsoft.ai/events/28583-argentina-s-draft-2025-budget-foresees-5-gdp-growth-reuters.md) | +0.7% | +0.4% |
| SBM | 2023-07-28 | [IMF, Argentina reach staff deal on loan reviews to unlock $7.5 billion \| Reuters](https://feedsoft.ai/events/35333-imf-argentina-reach-staff-deal-on-loan-reviews-to-unlock-7-5-billion-reuters.md) | -2.3% | -8.1% |
| SBM | 2019-11-29 | [Argentina’s currency controls: Tough lessons and tough decisions \| Business and Economy \| Al Jazeera](https://feedsoft.ai/events/56334-argentina-s-currency-controls-tough-lessons-and-tough-decisions-business-and.md) | +1.9% | +0.5% |

## Sources

- reuters.com: https://www.reuters.com/markets/currencies/argentina-restarts-crawling-peg-let-currency-weaken-first-time-since-august-2023-11-15/

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