# Argentina gov't moves to calm FX market, pledges no post-election devaluation

> Argentina's government moved to calm the foreign exchange market and pledged no devaluation after the election. Black-market trading was almost absent amid a government crackdown, with bids of 900 to 1,010 pesos per dollar but no confirmed deals. The official rate has been fixed at 350 pesos per dollar since August.

- Date: 2023-10-19 · published 2023-10-19T12:00:00.000Z
- Category: macro · region Argentina · magnitude low
- Page: https://feedsoft.ai/events/33935-argentina-gov-t-moves-to-calm-fx-market-pledges-no-post-election-devaluation
- Commodities: [Argentine Peso (ARS per USD)](https://feedsoft.ai/c/USDARS.md)

## Why it matters

A credible pledge against devaluation and a crackdown on informal trading may ease selling pressure on Argentine exporters, but capital controls keep the parallel gap wide and limit dollar availability for trade.

## Read by commodity

- USDARS: bearish ▼

## Sources

- reuters.com: https://www.reuters.com/markets/argentina-govt-moves-calm-fx-market-pledges-no-post-election-devaluation-2023-10-19/

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