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Argentina's foreign currency reserves fell to a four-year low last week, below their level when the IMF began a $56 billion loan programme in 2018. Strict currency controls and a nationwide lockdown have not stopped dollars leaving the economy, and the gap between official and unofficial exchange rates remains around 67 percent.
Analysts say the government may need to let the official rate weaken faster or tighten capital controls further.
A weaker official peso raises the cost of imported feed inputs priced in dollars for Argentine buyers and increases the pull toward exporting grain and oilseeds for hard currency. The widening parallel-rate gap signals that pressure on the official rate is building.
batimes.com.arJames GraingerMay 26, 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.
