# Peso drops, country risk up after volatile day led by IMF visit | Buenos Aires Times

> The peso depreciated about 2.5% against the dollar on Tuesday, closing at 58.66, after the IMF met with presidential frontrunner Alberto Fernandez. Leading stocks lost up to 13% despite a $300 million central bank intervention.

- Date: 2019-08-28 · published 2019-08-28T12:00:00.000Z
- Category: macro · region Argentina · magnitude low
- Page: https://feedsoft.ai/events/57873-peso-drops-country-risk-up-after-volatile-day-led-by-imf-visit-buenos-aires
- Commodities: [Argentine Peso (ARS per USD)](https://feedsoft.ai/c/USDARS.md)

## Why it matters

A weaker peso and political uncertainty ahead of the October election increase Argentine export incentives for soy products while raising financing risk for importers of feed inputs.

## Read by commodity

- USDARS: bearish ▼

## Sources

- batimes.com.ar: https://www.batimes.com.ar/news/economy/peso-drops-country-risk-up-after-volatile-day-led-by-imf-visit.phtml

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