# Argentina curbs banks' access to pesos amid growing market turmoil

> Argentina's central bank restricted banks' access to pesos amid intensifying market turmoil. The peso closed 2.72% weaker at 59.52 per dollar, extending its year-to-date loss to about 36%, and over-the-counter sovereign bonds fell an average 5.5%.

- Date: 2019-08-31 · published 2019-08-31T12:00:00.000Z
- Category: macro · region Argentina · magnitude medium
- Page: https://feedsoft.ai/events/57871-argentina-curbs-banks-access-to-pesos-amid-growing-market-turmoil
- Commodities: [Argentine Peso (ARS per USD)](https://feedsoft.ai/c/USDARS.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Currency and debt stress in Argentina raises import costs and weakens demand for feed-grade imports and meal exports priced in dollars, while a weaker peso can encourage farmers to sell soybeans and meal faster, pressuring CBOT-linked prices.

## Read by commodity

- SBM: bearish ▼
- USDARS: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBM | 2018-08-30 | [Argentina crisis: Peso crashes to record low amid IMF plea](https://feedsoft.ai/events/63822-argentina-crisis-peso-crashes-to-record-low-amid-imf-plea.md) | +2.9% | +2.0% |
| SBM | 2026-03-02 | [Argentine peso down 2.24% on early trading at 1,430 per USD amid global tension: traders \| MarketScreener](https://feedsoft.ai/events/20437-argentine-peso-down-2-24-on-early-trading-at-1-430-per-usd-amid-global-tension.md) | -0.1% | +1.0% |
| SBM | 2023-12-13 | [Argentina peso devalued over 50% as markets welcome Milei's 'tough pill'](https://feedsoft.ai/events/32995-argentina-peso-devalued-over-50-as-markets-welcome-milei-s-tough-pill.md) | -4.8% | -12.4% |
| SBM | 2019-08-27 | [To shore up peso, Argentina breaks IMF rule \| Business and Economy \| Al Jazeera](https://feedsoft.ai/events/57874-to-shore-up-peso-argentina-breaks-imf-rule-business-and-economy-al-jazeera.md) | -1.7% | +0.8% |
| SBM | 2023-10-10 | [Argentina's beleaguered peso sinks to new low as election looms \| Reuters](https://feedsoft.ai/events/33934-argentina-s-beleaguered-peso-sinks-to-new-low-as-election-looms-reuters.md) | +4.8% | +18.2% |

## Sources

- reuters.com: https://www.reuters.com/article/us-argentina-economy/argentine-peso-bond-prices-fall-further-as-sp-rating-cut-prompts-selling-idUSKCN1VK18Y/?feedName=businessNews&feedType=RSS

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