# Rush to black-market dollars as economic woes mount | Buenos Aires Times

> Argentines are rushing to buy black-market dollars as real interest rates fall below zero and fears of another sovereign debt default grow. The peso hit a record 118 per dollar in informal exchange houses on Thursday, up from 107 the previous day. Central Bank rate cuts and expected money printing to fund social spending are adding pressure.

- Date: 2020-04-24 · published 2020-04-24T12:00:00.000Z
- Category: macro · region Argentina · magnitude medium
- Page: https://feedsoft.ai/events/53900-rush-to-black-market-dollars-as-economic-woes-mount-buenos-aires-times
- Commodities: [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Peso weakness and rising inflation expectations raise Argentine feed and grain input costs in pesos and can spur farmer selling or holding of crops, affecting export availability. Currency depreciation typically makes Argentine soy products cheaper on world markets.

## Read by commodity

- SBM: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBM | 2025-07-31 | [U.S. dollar exchange rate in Argentina hits all-time high of AR$1,380 - Buenos Aires Herald](https://feedsoft.ai/events/24045-u-s-dollar-exchange-rate-in-argentina-hits-all-time-high-of-ar-1-380-buenos.md) | +2.6% | +11.0% |
| SBM | 2024-06-25 | [Milei’s push to rebuild Argentina’s foreign reserves grinds to a halt \| Buenos Aires Times](https://feedsoft.ai/events/30075-milei-s-push-to-rebuild-argentina-s-foreign-reserves-grinds-to-a-halt-buenos.md) | -1.8% | -7.4% |
| SBM | 2024-12-11 | [Exchange rate gap drops to 4%, a record low - Buenos Aires Herald](https://feedsoft.ai/events/27240-exchange-rate-gap-drops-to-4-a-record-low-buenos-aires-herald.md) | -0.6% | +1.2% |
| SBM | 2024-07-16 | [Argentina’s new bid to ‘sterilize’ peso emissions lowers parallel dollar rates… now what? - Buenos Aires Herald](https://feedsoft.ai/events/29583-argentina-s-new-bid-to-sterilize-peso-emissions-lowers-parallel-dollar-rates.md) | +2.6% | -3.5% |
| SBM | 2023-07-31 | [Consulting firms: IMF disbursement will help Central Bank manage currency market - Buenos Aires Herald](https://feedsoft.ai/events/35335-consulting-firms-imf-disbursement-will-help-central-bank-manage-currency-market.md) | -1.9% | -6.6% |

## Sources

- batimes.com.ar: https://batimes.com.ar/news/economy/rush-to-black-market-dollars-as-economic-woes-mount.phtml

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