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Argentina is combining orthodox and unusual measures to narrow a record gap between its official and parallel exchange rates. The gap has fallen to 87 percent from a 130 percent peak on October 22, helped by central bank sales of dollar bonds and pressure on traders.
Narrowing the parallel premium reduces the incentive for exporters to hold back grain and meal, which eases pressure on Argentine export supplies. The effect on world soymeal prices is modest but supports a steadier peso.
batimes.com.arJames GraingerNov 12, 2020Not 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.
