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On 28 February the Central Bank of Argentina tightened its foreign exchange intervention rules to fight inflation. It raised the daily dollar sales limit to USD 150 million from USD 75 million when the peso moves above the non-intervention band, and cut the daily purchase limit to USD 50 million from USD 75 million.
The bank also said it has exceeded its 0% monetary base growth target.
The larger sales capacity gives the central bank more power to hold the peso steady, which limits the export price advantage Argentine farm goods would otherwise gain from depreciation. This supports stable Argentine export prices for meal and grain.
focus-economics.comMassimoFeb 28, 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.
