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Argentina's multiple exchange rate system is under strain, with the black-market dollar rising more than 4% in a day to 164 pesos per dollar. The official rate was roughly 77 pesos per dollar, a gap of about 112%, the widest since 1989.
Tax breaks for farmers have not stopped the drop in international reserves.
The widening gap encourages farmers to hold back crops in hopes of a weaker official peso, which can tighten near-term export supply of soy products.
batimes.com.arJames GraingerOct 10, 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.
