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Argentina's central bank largely abandoned its non-intervention policy on April 29, though it said it remains committed to the flexible exchange-rate regime agreed with the IMF. The peso had fallen more than 9% against the dollar between April 18 and April 29 as investors questioned reform progress.
The report describes the policy change as a shift in how the central bank manages the currency.
Active central bank management reduces the chance of a sudden peso collapse, which supports Argentine exporters' ability to keep selling soymeal and corn at predictable prices. The commodity price effect is small.
centralbanking.comCentral Banking NewsdeskApr 30, 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.
