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Argentina's central bank raised its 7-day Leliq rate by 500 basis points to 65% from 60%. The USD/ARS pair retreated to around 40.90 after surging above 41 earlier in the session.
Sharply higher interest rates aim to stabilize the peso, which reduces the pressure for Argentine farmers to sell crops at discounts and supports the currency-driven export pricing.
elev8.comSep 28, 2018Not 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.
