Loading…
Argentina's central bank did not intervene in financial currency markets on May 19, which pushed the MEP dollar up almost 7% in one day. The aim was to close a bond arbitrage loophole that let brokers earn up to 9% quickly.
The central bank had been intervening since April 25 to hold down the MEP rate.
A sharp jump in the MEP dollar widens the gap with the official rate and signals stress in Argentina's FX regime. That uncertainty affects the peso value of soybean and meal export sales.
buenosairesherald.comFacundo IglesiaMay 20, 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.
