# Argentina imposes more money exchange restrictions to defend reserves — MercoPress

> Argentina's central bank set a price floor for the peso at 59.99 per dollar to prevent a sharp plunge after the election. The peso traded at 59.68 per dollar. The President-elect faces debt and IMF negotiations along with reserve protection needs.

- Date: 2019-11-01 · published 2019-11-01T12:00:00.000Z
- Category: macro · region Argentina · magnitude medium
- Page: https://feedsoft.ai/events/56336-argentina-imposes-more-money-exchange-restrictions-to-defend-reserves-mercopress
- Commodities: [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Corn](https://feedsoft.ai/c/CORN.md), [Argentine Peso (ARS per USD)](https://feedsoft.ai/c/USDARS.md)

## Why it matters

Additional exchange restrictions and a managed peso can slow Argentine farmer sales and export flows, a minor supportive factor for international soymeal and corn prices.

## Read by commodity

- SBM: bullish ▲
- CORN: bullish ▲
- USDARS: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBM | 2023-03-29 | [Argentina: “Blue” dollar reaches AR$ 397 — MercoPress](https://feedsoft.ai/events/37155-argentina-blue-dollar-reaches-ar-397-mercopress.md) | +0.2% | -5.1% |
| SBM | 2022-06-06 | [Businesses are starting to feel the impact of exchange rate fluctuations.](https://feedsoft.ai/events/41262-businesses-are-starting-to-feel-the-impact-of-exchange-rate-fluctuations.md) | +3.1% | +9.5% |
| SBM | 2023-03-22 | [Argentina drought saps dollar reserves, pressuring FX crawling peg](https://feedsoft.ai/events/37153-argentina-drought-saps-dollar-reserves-pressuring-fx-crawling-peg.md) | -1.1% | -1.3% |
| SBM | 2019-08-12 | [Argentina farmers digest primary election shock, wait to export despite weaker peso](https://feedsoft.ai/events/57427-argentina-farmers-digest-primary-election-shock-wait-to-export-despite-weaker.md) | -0.6% | -2.8% |
| SBM | 2022-06-30 | [Inflationary pressure poses big challenge to economy](https://feedsoft.ai/events/41260-inflationary-pressure-poses-big-challenge-to-economy.md) | -0.8% | +4.4% |
| CORN | 2023-03-29 | [Argentina: “Blue” dollar reaches AR$ 397 — MercoPress](https://feedsoft.ai/events/37155-argentina-blue-dollar-reaches-ar-397-mercopress.md) | -0.1% | -1.3% |
| CORN | 2022-06-06 | [Businesses are starting to feel the impact of exchange rate fluctuations.](https://feedsoft.ai/events/41262-businesses-are-starting-to-feel-the-impact-of-exchange-rate-fluctuations.md) | +5.9% | +2.2% |
| CORN | 2023-03-22 | [Argentina drought saps dollar reserves, pressuring FX crawling peg](https://feedsoft.ai/events/37153-argentina-drought-saps-dollar-reserves-pressuring-fx-crawling-peg.md) | +1.7% | +1.3% |

## Sources

- en.mercopress.com: https://en.mercopress.com/2019/11/01/argentina-imposes-more-money-exchange-restrictions-to-defend-reserves

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