# Foreign Banks Expect Another Devaluation of the Argentine Peso By Year’s End

> Bank of America projects the official exchange rate could reach 615 pesos per dollar by the end of 2023, implying a further 43% devaluation. Economy Minister Massa said there would be no exchange rate changes until the end of October. Analysts cite low central bank reserves and a parallel gap above 100% as reasons for a larger devaluation later in the year.

- Date: 2023-09-06 · published 2023-09-06T12:00:00.000Z
- Category: macro · region Argentina · magnitude low
- Page: https://feedsoft.ai/events/34414-foreign-banks-expect-another-devaluation-of-the-argentine-peso-by-year-s-end
- Commodities: [Argentine Peso (ARS per USD)](https://feedsoft.ai/c/USDARS.md)

## Why it matters

Forecasts of a large devaluation signal sustained peso weakness, which can influence Argentine soybean export selling and the competitiveness of its meal and oil.

## Read by commodity

- USDARS: bullish ▲

## Sources

- bloomberglinea.com: https://www.bloomberglinea.com/english/foreign-banks-expect-another-devaluation-of-the-argentine-peso-by-years-end/

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