# Argentines are desperate for dollars as bets on devaluation soar | Buenos Aires Times

> Argentine investors are increasingly pessimistic on the peso and expect a faster devaluation after November elections. Dollars trade at 196 pesos on the parallel market, almost double the official rate, the largest gap in 12 months. Futures contracts imply a rate of 152.5 pesos per dollar by September 2022.

- Date: 2021-10-21 · published 2021-10-21T12:00:00.000Z
- Category: macro · region Argentina · magnitude low
- Page: https://feedsoft.ai/events/44848-argentines-are-desperate-for-dollars-as-bets-on-devaluation-soar-buenos-aires
- 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 lower Argentine export prices in dollar terms and could weigh on world soymeal prices. The growing parallel premium also shows that currency controls are straining the country's trade flows.

## Read by commodity

- SBM: bearish ▼
- USDARS: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBM | 2021-11-01 | [Argentines Are Desperate for Dollars](https://feedsoft.ai/events/44845-argentines-are-desperate-for-dollars.md) | +0.2% | +2.8% |
| SBM | 2018-01-31 | [Dollar creeps toward 20 pesos \| Buenos Aires Times](https://feedsoft.ai/events/67267-dollar-creeps-toward-20-pesos-buenos-aires-times.md) | -2.6% | +15.8% |
| SBM | 2018-05-15 | [Argentine peso takes fresh hit amid uncertainty  \| Buenos Aires Times](https://feedsoft.ai/events/65311-argentine-peso-takes-fresh-hit-amid-uncertainty-buenos-aires-times.md) | -2.7% | -9.3% |
| SBM | 2024-01-18 | [Why the Argentine peso is slipping through Milei’s fingers \| Buenos Aires Times](https://feedsoft.ai/events/32421-why-the-argentine-peso-is-slipping-through-milei-s-fingers-buenos-aires-times.md) | +1.1% | -3.7% |
| SBM | 2021-10-22 | [Unofficial exchange rate shows Argentina's de facto devaluation — MercoPress](https://feedsoft.ai/events/44847-unofficial-exchange-rate-shows-argentina-s-de-facto-devaluation-mercopress.md) | +1.5% | +11.6% |

## Sources

- batimes.com.ar: https://www.batimes.com.ar/news/economy/argentines-are-desperate-for-dollars.phtml

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