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Dollar shortages in Argentina have pushed companies to use the Chinese yuan for trade payments, with yuan's share of forex transactions reaching a record 28% this month. Whirlpool is reportedly considering paying for parts for a new factory in yuan.
The shift is tied to inflation, crop failures and the central bank's depleted dollar reserves.
Argentina's grain and oilseed exporters rely on dollar flows, so tighter dollar supply can slow crush and export financing and weigh on the peso. Feed buyers may see less reliable Argentine export pricing and more currency-driven volatility.
batimes.com.arJames GraingerJun 26, 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.
