# Government lets MEP dollar surge to dismantle financial loophole - Buenos Aires Herald

> 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.

- Date: 2023-05-20 · published 2023-05-20T12:00:00.000Z
- Category: macro · region Argentina · magnitude medium
- Page: https://feedsoft.ai/events/36238-government-lets-mep-dollar-surge-to-dismantle-financial-loophole-buenos-aires
- Commodities: [Argentine Peso (ARS per USD)](https://feedsoft.ai/c/USDARS.md)

## Why it matters

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.

## Read by commodity

- USDARS: bullish ▲

## Sources

- buenosairesherald.com: https://buenosairesherald.com/economics/government-lets-mep-dollar-surge-to-dismantle-financial-loophole

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