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Argentina's net currency reserves are at or near zero, forcing the central bank to choose between tighter controls or letting the peso fall further. The official rate has dropped 25 percent this year to just over 80 per dollar, while the unofficial rate is near 160, and inflation is approaching 40 percent.
Near-empty reserves raise the odds of a sharp peso devaluation, which would shift Argentine export pricing for soymeal, soyoil and grains. Analysts expect the currency to remain under pressure while the government funds its deficit by printing money.
kfgo.comThomson ReutersNov 20, 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.
