# Argentine banks short of storage capacity to pile the rapidly depreciating Pesos — MercoPress

> Argentina's 1,000-peso banknote is worth about US$5.40 at the official rate but only about US$2.65 at real market rates. Pressure is mounting for higher-denomination notes, and the CAC has called for 5,000-peso bills. Inflation is close to 100% and the country owes US$40 billion to the IMF.

- Date: 2023-01-26 · published 2023-01-26T12:00:00.000Z
- Category: macro · region Argentina · magnitude low
- Page: https://feedsoft.ai/events/38058-argentine-banks-short-of-storage-capacity-to-pile-the-rapidly-depreciating
- Commodities: [Argentine Peso (ARS per USD)](https://feedsoft.ai/c/USDARS.md)

## Why it matters

Currency dislocation and inflation erode Argentine purchasing power and farm-sector economics, a background factor for soybean and corn export pricing.

## Read by commodity

- USDARS: bearish ▼

## Sources

- en.mercopress.com: https://en.mercopress.com/2023/01/26/argentine-banks-short-of-storage-capacity-to-pile-the-rapidly-depreciating-pesos

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