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Argentine car dealers are selling vehicles at a steep discount to buyers who pay in dollars through unofficial channels, where the peso trades at about 112 per dollar against an official rate near 68. A Ford Ka listed at about $12,100 at the official rate can be bought for closer to $7,000.
The article links this gap to currency controls that keep the official peso artificially high while the economy deepens into recession.
The wide spread between official and unofficial peso rates reflects currency controls that keep the official rate strong, which can cut Argentine farmers' peso returns on exports and weigh on the broader economy and feed demand.
reuters.comEliana RaszewskiMay 27, 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.
