# Argentina’s Cash Needed to Avert Devaluation is Drying Up

> Argentina's central bank is burning about $60 million a day selling dollars to keep the peso steady, while foreign reserves are running very low. The country lost $1.47 billion in reserves in a single week amid political turmoil and inflation nearing triple digits.

- Date: 2022-08-02 · published 2022-08-02T12:00:00.000Z
- Category: macro · region Argentina · magnitude medium
- Page: https://feedsoft.ai/events/40324-argentina-s-cash-needed-to-avert-devaluation-is-drying-up
- Commodities: [Argentine Peso (ARS per USD)](https://feedsoft.ai/c/USDARS.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Low reserves and currency pressure can push Argentine farmers to hold back soybeans and corn or sell faster, tightening or loosening export availability. A possible peso devaluation would make Argentine oilseed and meal exports cheaper on world markets.

## Read by commodity

- SBM: neutral
- SOY: neutral
- USDARS: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBM | 2024-08-02 | [Argentina Fights on Two Fronts to Defend Peso, Draining Reserves](https://feedsoft.ai/events/29079-argentina-fights-on-two-fronts-to-defend-peso-draining-reserves.md) | -4.6% | -11.0% |
| SBM | 2019-07-26 | [Volatility Is Back in Argentina as Election Jitters Take Toll - Bloomberg](https://feedsoft.ai/events/58358-volatility-is-back-in-argentina-as-election-jitters-take-toll-bloomberg.md) | -3.5% | -3.4% |
| SBM | 2020-03-03 | [President Fernandez tries to slay Argentina’s inflation dragon \| Business and Economy \| Al Jazeera](https://feedsoft.ai/events/54375-president-fernandez-tries-to-slay-argentina-s-inflation-dragon-business-and.md) | -1.9% | +7.7% |
| SBM | 2023-07-25 | [Argentine IMF concessions risk further fueling red hot inflation](https://feedsoft.ai/events/35332-argentine-imf-concessions-risk-further-fueling-red-hot-inflation.md) | +0.7% | -7.7% |
| SBM | 2025-04-22 | [Argentina's surprise peso strength tempers fears of inflation comeback \| Reuters](https://feedsoft.ai/events/25426-argentina-s-surprise-peso-strength-tempers-fears-of-inflation-comeback-reuters.md) | -2.2% | -1.7% |
| SOY | 2019-03-19 | [Argentina Is Anxious for Soy Dollars. Farmers Won’t Play Ball - Bloomberg](https://feedsoft.ai/events/59942-argentina-is-anxious-for-soy-dollars-farmers-won-t-play-ball-bloomberg.md) | +0.1% | -0.8% |
| SOY | 2019-06-04 | [Why the hurdle for a major CNY devaluation remains high \| Lombard Odier](https://feedsoft.ai/events/58823-why-the-hurdle-for-a-major-cny-devaluation-remains-high-lombard-odier.md) | -2.3% | +0.7% |
| SOY | 2024-10-30 | [Argentina's Milei Taps Unseasonal Source in Search of Dollars: Shock Therapy \| Financial Post](https://feedsoft.ai/events/28129-argentina-s-milei-taps-unseasonal-source-in-search-of-dollars-shock-therapy.md) | +3.0% | +1.9% |

## Sources

- bloomberglinea.com: https://www.bloomberglinea.com/english/argentinas-cash-needed-to-avert-devaluation-is-drying-up/

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