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Massa launched a 'Vaca Muerta' dollar scheme allowing hydrocarbon companies to liquidate 25% of exports at the blue-chip rate, which closed at AR$778 per dollar on the announcement day. The official single market rate remains at AR$350.
The measure is intended to boost oil and gas investment and avoid a run on the peso during the election period, a few days after the soybean exporter benefit was set to end.
The scheme adds another channel for converting dollars at a premium rate, which can ease near-term dollar scarcity but signals ongoing multiple exchange rates that weigh on the peso.
buenosairesherald.comFlorencia BarraganSep 27, 2023Not 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.
