# Argentina crisis: Peso crashes to record low amid IMF plea

> Argentina's peso crashed to record lows after the government unexpectedly requested early release of a $50 billion IMF loan, falling to 39 per dollar. The central bank raised rates and increased bank reserve requirements, and the peso is down over 45 percent this year.

- Date: 2018-08-30 · published 2018-08-30T12:00:00.000Z
- Category: macro · region Argentina · magnitude medium
- Page: https://feedsoft.ai/events/63822-argentina-crisis-peso-crashes-to-record-low-amid-imf-plea
- Commodities: [Argentine Peso (ARS per USD)](https://feedsoft.ai/c/USDARS.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

A deepening currency crisis makes Argentine oilseed and grain exports cheaper, which can pressure world soymeal and corn prices as farmers accelerate sales.

## Read by commodity

- SBM: bearish ▼
- CORN: bearish ▼
- USDARS: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| 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 | 2018-05-03 | [Argentina peso crashes 7.8 pct despite 2nd interest rate jolt](https://feedsoft.ai/events/65312-argentina-peso-crashes-7-8-pct-despite-2nd-interest-rate-jolt.md) | -2.7% | -6.2% |
| 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% |
| SBM | 2018-08-30 | [Argentina hikes interest rate to 60 percent; peso plunges \| AP News](https://feedsoft.ai/events/63820-argentina-hikes-interest-rate-to-60-percent-peso-plunges-ap-news.md) | +2.9% | +2.0% |
| SBM | 2019-08-27 | [To shore up peso, Argentina breaks IMF rule \| Business and Economy \| Al Jazeera](https://feedsoft.ai/events/57874-to-shore-up-peso-argentina-breaks-imf-rule-business-and-economy-al-jazeera.md) | -1.7% | +0.8% |
| CORN | 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) | -0.5% | -0.3% |
| CORN | 2022-06-28 | [Argentina's economic crisis whack-a-mole goes into overdrive \| Reuters](https://feedsoft.ai/events/41227-argentina-s-economic-crisis-whack-a-mole-goes-into-overdrive-reuters.md) | +4.0% | -16.7% |
| CORN | 2018-08-31 | [Argentina peso sell off stops as investors await government plan](https://feedsoft.ai/events/63819-argentina-peso-sell-off-stops-as-investors-await-government-plan.md) | +2.5% | +4.3% |

## Sources

- cnbc.com: https://www.cnbc.com/2018/08/30/argentina-crisis-peso-crashes-to-record-low-amid-imf-plea.html

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