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The Central Bank of Argentina (BCRA) stated that its recent peso intervention came after weakness in the currency, with the bank selling dollars and buying pesos. It reaffirmed commitment to a floating exchange rate while not ruling out occasional intervention.
The 7-day repo rate was held unchanged at 27.25%.
A central bank selling dollars to support the peso reduces pressure on Argentine feed and grain import costs and affects the peso-denominated prices that Argentine exporters receive, a modest factor for soybean meal and corn export competitiveness.
investinglive.comEamonn SheridanMar 13, 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.
