# Wall Street traders pump up Argentine peso as currency controls hit home

> 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.

- Date: 2019-09-03 · published 2019-09-03T12:00:00.000Z
- Category: macro · region Argentina · magnitude medium
- Page: https://feedsoft.ai/events/57368-wall-street-traders-pump-up-argentine-peso-as-currency-controls-hit-home
- Commodities: [Argentine Peso (ARS per USD)](https://feedsoft.ai/c/USDARS.md)

## Why it matters

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.

## Read by commodity

- USDARS: bearish ▼

## Sources

- reuters.com: https://www.reuters.com/article/business/wall-street-traders-pump-up-argentine-peso-as-currency-controls-hit-home-idUSKCN1VM1IJ/

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