# Argentina cbank tightens FX access for soy exporters, hitting peso

> Argentina's central bank has barred soybean exporters from trading on alternative foreign exchange markets, ending their access to the higher-rate export incentive program for foreign currency purchases from Tuesday. The move also blocks trading in foreign currency-denominated securities. The peso weakened 2.11% to 285 per dollar on the parallel black market.

- Date: 2022-09-20 · published 2022-09-20T12:00:00.000Z
- Category: policy · region Argentina · magnitude medium
- Page: https://feedsoft.ai/events/39857-argentina-cbank-tightens-fx-access-for-soy-exporters-hitting-peso
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Argentine Peso (ARS per USD)](https://feedsoft.ai/c/USDARS.md)

## Why it matters

Restricting exporters' access to dollars may slow soy sales and add pressure on the peso, which raises the cost of Argentine soy and meal in dollar terms. The effect on soybean and meal prices is uncertain but could support prices if exporters hold back supply.

## Read by commodity

- SOY: neutral
- USDARS: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2020-08-18 | [Argentina Mulls Cutting Export Tax for Soy Meal: Industry Group](https://feedsoft.ai/events/51434-argentina-mulls-cutting-export-tax-for-soy-meal-industry-group.md) | -1.4% | +8.7% |
| SOY | 2020-01-13 | [Argentine farmers increased forward selling of soybeans to avoid higher export taxes — MercoPress](https://feedsoft.ai/events/54931-argentine-farmers-increased-forward-selling-of-soybeans-to-avoid-higher-export.md) | -0.6% | -5.4% |
| SOY | 2020-01-09 | [Higher export taxes impacting Argentina farmers \| 2020-01-09  \| World Grain](https://feedsoft.ai/events/54928-higher-export-taxes-impacting-argentina-farmers-2020-01-09-world-grain.md) | -1.0% | -6.1% |
| SOY | 2024-08-07 | [Argentina grain export taxes not going away any time soon](https://feedsoft.ai/events/13905-argentina-grain-export-taxes-not-going-away-any-time-soon.md) | -3.8% | -2.2% |
| SOY | 2018-08-15 | [Argentina: tax cuts on soy meal and soy oil exports suspended six months — MercoPress](https://feedsoft.ai/events/63376-argentina-tax-cuts-on-soy-meal-and-soy-oil-exports-suspended-six-months.md) | +1.2% | -4.1% |

## Sources

- finance.yahoo.com: https://finance.yahoo.com/news/argentina-cbank-tightens-fx-access-165311350.html

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