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The Argentine peso fell to a record low of 29.76 per US dollar, a weekly devaluation of about 6.75%. The Merval stock index dropped 13.84% over the week, and the central bank sold a large amount of dollars to defend the currency.
Peso weakness raises Argentina's import costs and inflation pressure while squeezing local crushers' margins, which can weigh on Argentine soymeal and soyoil export pricing in dollar terms.
batimes.com.arEugenia IglesiasJun 30, 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.
