# Argentina debt deal should limit need for more controls, reduce peso gap- cenbank chief | Financial Post

> Argentina's central bank chief Miguel Angel Pesce said the recent preliminary debt restructuring deal with creditors should reduce the need for further currency controls and narrow the gap between the official and black market peso rates. The peso opened 0.11% weaker at 73.81 per dollar, while the black market rate of 137 per dollar left a gap of about 85.8%. Bondholders have until Aug. 28 to formally accept the roughly $65 billion restructuring offer.

- Date: 2020-08-25 · published 2020-08-25T12:00:00.000Z
- Category: macro · region Argentina · magnitude low
- Page: https://feedsoft.ai/events/51899-argentina-debt-deal-should-limit-need-for-more-controls-reduce-peso-gap-cenbank
- Commodities: [Argentine Peso (ARS per USD)](https://feedsoft.ai/c/USDARS.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Easing currency controls and a narrower official-black market spread would affect Argentina's exchange rate and its ability to export soymeal and grain, which feeds into Argentine export pricing and global meal supply. Currency-related policy changes can shift Argentine farmer selling behavior and therefore soybean product prices.

## Read by commodity

- SBM: neutral
- USDARS: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBM | 2023-04-27 | [Argentina seeks to tame inflation, peso with biggest rate hike since 2019 \| Financial Post](https://feedsoft.ai/events/36673-argentina-seeks-to-tame-inflation-peso-with-biggest-rate-hike-since-2019.md) | -0.7% | -6.2% |
| SBM | 2020-09-16 | [Latam Daily: Brazil Copom Preview; Argentina FX Controls; Peru GDP, Employment Gains \| Post](https://feedsoft.ai/events/51400-latam-daily-brazil-copom-preview-argentina-fx-controls-peru-gdp-employment.md) | +7.3% | +14.1% |
| SBM | 2024-10-30 | [Argentina's Milei Taps Unseasonal Source in Search of Dollars: Shock Therapy \| Financial Post](https://feedsoft.ai/events/28129-argentina-s-milei-taps-unseasonal-source-in-search-of-dollars-shock-therapy.md) | -0.8% | -4.8% |
| SBM | 2018-08-31 | [Argentina peso firms as central bank intervenes, IMF voices support](https://feedsoft.ai/events/63818-argentina-peso-firms-as-central-bank-intervenes-imf-voices-support.md) | +4.2% | +1.3% |
| SBM | 2020-12-10 | [Brazil's real jumps after central bank hints at end of easing cycle \| Financial Post](https://feedsoft.ai/events/49851-brazil-s-real-jumps-after-central-bank-hints-at-end-of-easing-cycle-financial.md) | +2.6% | +15.1% |

## Sources

- financialpost.com: https://financialpost.com/pmn/business-pmn/argentina-debt-deal-should-limit-need-for-more-controls-reduce-peso-gap-cenbank-chief

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