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The Argentine government allowed Mastercard and Visa to offer tourists an exchange rate that nearly doubles their purchasing power. The move aims to attract tourism dollars as inflation approaches 100% and the largest peso note is worth about $3.
Visitors have historically obtained better rates on the black market.
The scheme increases dollar inflows through official channels but does not change export flows or feed commodity balances, so the price impact on feed is minimal.
bloomberg.comPatrick GillespieDec 21, 2022Not 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.
