Argentina's Central Bank Market Expectations Survey, based on projections from 45 consultancies, research centers and financial institutions, sees the wholesale dollar averaging 1,558 pesos in November and reaching 1,590 in December. The December forecast was lowered by 21.40 pesos from the previous survey, while analysts expect peso interest rates to remain relatively stable.
A gradual expected peso depreciation could raise the local-currency cost of imported feed and support export competitiveness, although the lowered forecast suggests a milder currency pressure than previously expected.
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