# To shore up peso, Argentina breaks IMF rule | Business and Economy | Al Jazeera

> Argentina's central bank sold $302m in reserves on Tuesday, exceeding the $250m daily limit set under its IMF standby agreement. The peso closed 1.76% weaker at 56.3 per dollar.

- Date: 2019-08-27 · published 2019-08-27T12:00:00.000Z
- Category: macro · region Argentina · magnitude low
- Page: https://feedsoft.ai/events/57874-to-shore-up-peso-argentina-breaks-imf-rule-business-and-economy-al-jazeera
- Commodities: [Argentine Peso (ARS per USD)](https://feedsoft.ai/c/USDARS.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Breaching the IMF guideline signals stress in the currency defense, which keeps the peso weak and supports Argentine export competitiveness for soybean meal.

## Read by commodity

- SBM: bearish ▼
- USDARS: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBM | 2018-01-25 | [BCRA shift puts Argentine peso under pressure \| Capital Economics](https://feedsoft.ai/events/67268-bcra-shift-puts-argentine-peso-under-pressure-capital-economics.md) | -1.2% | +10.2% |
| SBM | 2018-06-28 | [How a Rising U.S. Dollar Puts Argentina's and Brazil's Economies at Risk](https://feedsoft.ai/events/64805-how-a-rising-u-s-dollar-puts-argentina-s-and-brazil-s-economies-at-risk.md) | -1.7% | -0.4% |
| 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 | 2018-09-27 | [Argentina peso slides after record loan with IMF \| AP News](https://feedsoft.ai/events/63331-argentina-peso-slides-after-record-loan-with-imf-ap-news.md) | -0.1% | -0.5% |
| 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

- aljazeera.com: https://www.aljazeera.com/economy/2019/8/27/to-shore-up-peso-argentina-breaks-imf-rule

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