# Argentina bonds plunge, black market peso bounces as economy chief seeks calm

> Argentina's black market peso rebounded about 3% on July 5 after an 8% crash the previous day, as the new economy minister moved to calm markets. Sovereign bonds fell sharply amid fears of economic crisis and default, and the central bank intervened to support the peso.

- Date: 2022-07-05 · published 2022-07-05T12:00:00.000Z
- Category: macro · region Argentina · magnitude medium
- Page: https://feedsoft.ai/events/40769-argentina-bonds-plunge-black-market-peso-bounces-as-economy-chief-seeks-calm
- Commodities: [Argentine Peso (ARS per USD)](https://feedsoft.ai/c/USDARS.md)

## Why it matters

Currency and debt stress in Argentina can drive grain farmers to hoard or sell crops to raise dollars, changing export flows. Peso volatility also shifts the competitiveness of Argentine soybean meal and corn in world markets.

## Read by commodity

- USDARS: neutral

## Sources

- reuters.com: https://www.reuters.com/markets/currencies/argentina-black-market-peso-edges-lower-economy-chief-takes-reins-stocks-bounce-2022-07-05/

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