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Argentina's central bank is seeking market makers, dealers who agree to buy and sell at set prices, to add liquidity to the exchange market. The move follows a sharp peso fall that hit a record low of 42.5 per dollar in thin trading.
The sell-off was driven by doubts about the economy and political uncertainty ahead of October elections.
A more stable peso could ease pressure on Argentine feed and grain costs and on export pricing for soymeal and corn. Continued currency volatility would keep Argentine export-sellers holding back sales, which can support world soymeal prices.
reuters.comEliana RaszewskiMar 15, 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.
