# Peso sinks to record low against the dollar | Buenos Aires Times

> 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.

- Date: 2018-06-30 · published 2018-06-30T12:00:00.000Z
- Category: macro · region Argentina · magnitude medium
- Page: https://feedsoft.ai/events/64801-peso-sinks-to-record-low-against-the-dollar-buenos-aires-times
- Commodities: [Argentine Peso (ARS per USD)](https://feedsoft.ai/c/USDARS.md)

## Why it matters

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.

## Read by commodity

- USDARS: bearish ▼

## Sources

- batimes.com.ar: https://www.batimes.com.ar/news/economy/peso-sinks-to-record-low-against-the-dollar.phtml

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