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Argentina's peso closed 5.39% stronger at 55.98 per U.S. dollar on Tuesday, its best level in a week, after a near-record low the previous Friday. Traders said the central bank sold dollars from its reserves in the afternoon, and country risk fell.
The rebound followed the government's capital controls, which were meant to protect the currency.
A stronger peso lowers the cost of Argentine grain and meal exports in local terms, which can change farmer selling and export pace. Continued currency volatility keeps Argentine export flows and prices unpredictable for feed buyers.
reuters.comCassandra GarrisonSep 3, 2019Not 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.
