# Argentina’s currency woes show no sign of easing | Buenos Aires Times

> 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.

- Date: 2020-10-10 · published 2020-10-10T12:00:00.000Z
- Category: macro · region Argentina · magnitude low
- Page: https://feedsoft.ai/events/50913-argentina-s-currency-woes-show-no-sign-of-easing-buenos-aires-times
- Commodities: [Argentine Peso (ARS per USD)](https://feedsoft.ai/c/USDARS.md)

## Why it matters

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.

## Read by commodity

- USDARS: bullish ▲

## Sources

- batimes.com.ar: https://www.batimes.com.ar/news/economy/argentinas-currency-woes-show-no-sign-of-easing.phtml

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