# Argentina vows to battle peso slide towards 500 per dollar in black market By Reuters

> Argentine Economy Minister Sergio Massa pledged to use all tools to counter the peso slide, which hit 495 per dollar in informal markets on April 25. The official peso has fallen 20% this year and the black-market gap is the widest since July, pressuring the government to devalue.

- Date: 2023-04-25 · published 2023-04-25T12:00:00.000Z
- Category: policy · region Argentina · magnitude medium
- Page: https://feedsoft.ai/events/36675-argentina-vows-to-battle-peso-slide-towards-500-per-dollar-in-black-market-by
- 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

A possible devaluation could boost Argentine grain and meal exports by improving producer incentives, but the currency turmoil also delays sales in the near term, leaving the price effect mixed.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBM | 2023-11-27 | [Can Argentina really move from the peso to the dollar? - BBC Money](https://feedsoft.ai/events/33461-can-argentina-really-move-from-the-peso-to-the-dollar-bbc-money.md) | -5.8% | -11.3% |
| SBM | 2023-07-28 | [IMF, Argentina reach staff deal on loan reviews to unlock $7.5 billion \| Reuters](https://feedsoft.ai/events/35333-imf-argentina-reach-staff-deal-on-loan-reviews-to-unlock-7-5-billion-reuters.md) | -2.3% | -8.1% |
| SBM | 2019-10-28 | [In Argentina grains belt, farmers ready to 'unsaddle' as Peronists return](https://feedsoft.ai/events/56409-in-argentina-grains-belt-farmers-ready-to-unsaddle-as-peronists-return.md) | +0.2% | -1.4% |
| SBM | 2024-09-16 | [Argentina's draft 2025 budget foresees 5% GDP growth \| Reuters](https://feedsoft.ai/events/28583-argentina-s-draft-2025-budget-foresees-5-gdp-growth-reuters.md) | +0.7% | +0.4% |
| SBM | 2023-09-08 | [Argentina: Soybean exporters will have access to dollars for industrial production](https://feedsoft.ai/events/13954-argentina-soybean-exporters-will-have-access-to-dollars-for-industrial.md) | -0.2% | -6.8% |
| CORN | 2019-10-28 | [In Argentina grains belt, farmers ready to 'unsaddle' as Peronists return](https://feedsoft.ai/events/56409-in-argentina-grains-belt-farmers-ready-to-unsaddle-as-peronists-return.md) | -1.3% | -1.5% |
| CORN | 2025-02-03 | [Argentina’s meal market remains slow despite export tax cut](https://feedsoft.ai/events/13880-argentina-s-meal-market-remains-slow-despite-export-tax-cut.md) | +0.6% | -3.9% |
| CORN | 2022-06-28 | [Argentina limits access to foreign exchange, blue dollar rates rise - DatamarNews](https://feedsoft.ai/events/41228-argentina-limits-access-to-foreign-exchange-blue-dollar-rates-rise-datamarnews.md) | +4.0% | -16.7% |

## Sources

- investing.com: https://www.investing.com/news/economy/argentinas-peso-at-record-lows-in-black-market-stokes-market-jitters-3063335

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