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Argentina's government steps to control its currency market have pushed a new unofficial exchange rate, the over-the-counter blue-chip swap, into prominence. Traders use bonds due 2030 to set it, and on July 14 the peso traded near 172 per dollar, about 3.4% weaker than open-platform rates.
The spread widened after the securities regulator limited bond trading on July 12.
A widening gap between official and market-implied rates signals stress in the peso and rising risk of further controls. This pushes up the effective cost of dollars for Argentine exporters and importers of feed and oilseed products.
batimes.com.arJames GraingerJul 15, 2021Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
