# More on the forex intervention in ARS - comments from Argentine central bank

> 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%.

- Date: 2018-03-13 · published 2018-03-13T12:00:00.000Z
- Category: macro · region Argentina · magnitude low
- Page: https://feedsoft.ai/events/66279-more-on-the-forex-intervention-in-ars-comments-from-argentine-central-bank
- Commodities: [Argentine Peso (ARS per USD)](https://feedsoft.ai/c/USDARS.md)

## Why it matters

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.

## Read by commodity

- USDARS: bearish ▼

## Sources

- investinglive.com: https://investinglive.com/news/!/more-on-the-forex-intervention-in-ars-comments-from-argentine-central-bank-20180313

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