# Argentina to Devalue Peso by 18% to 350 Per Dollar, Official Says - Bloomberg

> Argentina's government officially devalued the peso by 18% to about 350 per dollar and the central bank hiked rates in a move described as an admission that policy options had run out. The article is a subscriber-only report on the decision.

- Date: 2023-08-14 · published 2023-08-14T12:00:00.000Z
- Category: macro · region Argentina · magnitude medium
- Page: https://feedsoft.ai/events/34878-argentina-to-devalue-peso-by-18-to-350-per-dollar-official-says-bloomberg
- Commodities: [Argentine Peso (ARS per USD)](https://feedsoft.ai/c/USDARS.md)

## Why it matters

The move aims to restore FX order and stop reserve losses, which can lead Argentine exporters to accelerate sales of grains and oilseed products while the currency adjusts.

## Read by commodity

- USDARS: bullish ▲

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2023-08-14/argentina-to-devalue-peso-by-18-to-350-dollar-official-says

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