# Argentina allows oil sector to tap better exchange rate as election looms | Reuters

> Argentina's Economy Minister Sergio Massa announced that oil and gas exporters can convert 25% of their export earnings at the alternative CCL rate. The CCL rate offers about 763 pesos per dollar, more than double the official rate of around 350. The parallel market was offering about 758 pesos per dollar.

- Date: 2023-09-27 · published 2023-09-27T12:00:00.000Z
- Category: policy · region Argentina · magnitude medium
- Page: https://feedsoft.ai/events/34411-argentina-allows-oil-sector-to-tap-better-exchange-rate-as-election-looms
- Commodities: [Argentine Peso (ARS per USD)](https://feedsoft.ai/c/USDARS.md)

## Why it matters

The measure gives exporters a better effective rate for part of their dollars, which supports peso liquidity and signals further exchange-rate management ahead of the election.

## Read by commodity

- USDARS: bearish ▼

## Sources

- reuters.com: https://www.reuters.com/markets/currencies/argentina-allows-oil-sector-tap-better-exchange-rate-election-looms-2023-09-27/

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