# Argentines Are Desperate for Dollars

> Argentine investors are increasingly pessimistic on the peso and expect the government to speed up devaluation after November elections. Dollars cost 196 pesos on the parallel market, almost double the official rate, the widest gap in 12 months. Futures price the peso at 152.5 per dollar in September 2022.

- Date: 2021-11-01 · published 2021-11-01T12:00:00.000Z
- Category: macro · region Argentina · magnitude low
- Page: https://feedsoft.ai/events/44845-argentines-are-desperate-for-dollars
- Commodities: [Argentine Peso (ARS per USD)](https://feedsoft.ai/c/USDARS.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Expected devaluation would make Argentine soymeal and soybean exports more competitive, which could weigh on world oilseed meal prices. The wide parallel-rate gap also signals capital flight and unstable export incentives.

## Read by commodity

- SBM: bearish ▼
- USDARS: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBM | 2021-10-21 | [Argentines are desperate for dollars as bets on devaluation soar \| Buenos Aires Times](https://feedsoft.ai/events/44848-argentines-are-desperate-for-dollars-as-bets-on-devaluation-soar-buenos-aires.md) | +0.4% | +11.5% |
| SBM | 2018-05-03 | [Argentina peso crashes 7.8 pct despite 2nd interest rate jolt](https://feedsoft.ai/events/65312-argentina-peso-crashes-7-8-pct-despite-2nd-interest-rate-jolt.md) | -2.7% | -6.2% |
| SBM | 2022-12-29 | [Argentine Peso Breaks Historic Low Mark as Argentines Hedge Savings in Dollars – Bitcoin News](https://feedsoft.ai/events/38509-argentine-peso-breaks-historic-low-mark-as-argentines-hedge-savings-in-dollars.md) | +4.4% | +1.2% |
| SBM | 2017-02-07 | [Investment outlook for Argentina - BBH — Octa](https://feedsoft.ai/events/72754-investment-outlook-for-argentina-bbh-octa.md) | +3.1% | -1.8% |
| SBM | 2018-06-28 | [How a Rising U.S. Dollar Puts Argentina's and Brazil's Economies at Risk](https://feedsoft.ai/events/64805-how-a-rising-u-s-dollar-puts-argentina-s-and-brazil-s-economies-at-risk.md) | -1.7% | -0.4% |

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2021-10-21/argentines-are-desperate-for-dollars-as-bets-on-devaluation-soar

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