# Argentina: A desperate search for a door as currency tumbles | AP News

> The informal peso rate depreciated about 20% over the week to reach 495 per dollar on April 25, widening the gap with the official rate to around 120%. The peso strengthened slightly on Wednesday but the market remained very volatile.

- Date: 2023-04-26 · published 2023-04-26T12:00:00.000Z
- Category: macro · region Argentina · magnitude low
- Page: https://feedsoft.ai/events/36674-argentina-a-desperate-search-for-a-door-as-currency-tumbles-ap-news
- Commodities: [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Corn](https://feedsoft.ai/c/CORN.md), [Argentine Peso (ARS per USD)](https://feedsoft.ai/c/USDARS.md)

## Why it matters

Currency instability in Argentina discourages exporters from selling, which can delay soymeal and corn shipments and support international meal prices.

## Read by commodity

- SBM: bullish ▲
- CORN: bullish ▲
- USDARS: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBM | 2023-11-20 | [Argentina's black market currency traders brace for uncertainty](https://feedsoft.ai/events/33457-argentina-s-black-market-currency-traders-brace-for-uncertainty.md) | +1.1% | -8.0% |
| SBM | 2023-03-31 | [Argentina's dollars drain fastest since 2019 as IMF decision looms \| Kitco News](https://feedsoft.ai/events/37154-argentina-and-apos-s-dollars-drain-fastest-since-2019-as-imf-decision-looms.md) | -0.7% | -3.8% |
| SBM | 2026-09-21 | [Particle: Argentina’s Official Dollar Steady as Parallel Rates Rise to Records](https://feedsoft.ai/events/17752-particle-argentina-s-official-dollar-steady-as-parallel-rates-rise-to-records.md) | +2.1% | +2.7% |
| SBM | 2023-04-26 | [Muddle-through is not enough for Argentina as peso faces fresh pressure \| Financial Post](https://feedsoft.ai/events/36676-muddle-through-is-not-enough-for-argentina-as-peso-faces-fresh-pressure.md) | -1.9% | -7.0% |
| SBM | 2023-03-22 | [Argentina drought saps dollar reserves, pressuring FX crawling peg](https://feedsoft.ai/events/37153-argentina-drought-saps-dollar-reserves-pressuring-fx-crawling-peg.md) | -1.1% | -1.3% |
| CORN | 2023-03-31 | [Argentina's dollars drain fastest since 2019 as IMF decision looms \| Kitco News](https://feedsoft.ai/events/37154-argentina-and-apos-s-dollars-drain-fastest-since-2019-as-imf-decision-looms.md) | -1.2% | -2.1% |
| CORN | 2023-03-13 | [Dollar slides as Fed rate hike outlook tumbles after SVB collapse](https://feedsoft.ai/events/37051-dollar-slides-as-fed-rate-hike-outlook-tumbles-after-svb-collapse.md) | +0.8% | +0.8% |
| CORN | 2023-04-26 | [Muddle-through is not enough for Argentina as peso faces fresh pressure \| Financial Post](https://feedsoft.ai/events/36676-muddle-through-is-not-enough-for-argentina-as-peso-faces-fresh-pressure.md) | -2.1% | -5.4% |

## Sources

- apnews.com: https://apnews.com/article/peso-argentina-devaluation-massa-dollar-blue-c80e63a32d6323f41502a936403e6f55

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