Skip to content

Argentina Creates New Foreign Exchange Rate for Soy Exports

  • Measure aims to strengthen reserves: Economy Minister Massa
  • Special rate to be 200 pesos per dollar until October
Updated on

Argentine Economy Minister Sergio Massa announced Sunday a special exchange rate for the country’s soy producers in a bid to incentivize exports, shore up central bank reserves and avoid a currency devaluation. 

Exporters of soy, the country’s top commodity, will be able to sell dollars from their shipments abroad at a rate of 200 pesos per dollar, more lucrative than the official rate of 139 per dollar, not including taxes.