Soybean exporters liquidated more than US$1 billion today in the third-to-last day of the “agro dollar III,” a US$1-AR$300 preferential exchange rate launched last month. The aim was to boost agricultural exports and strengthen international reserve accumulation in the midst of a historic drought. With the US$1.05 billion liquidated today, the measure has brought in a total of US$5.08 billion since the government kickstarted it. When the government launched the measure, the goal was an inflow of US$ 5 billion from soybean exports. “The initial US$5 billion target only referred to the soybean industry liquidations.

Source: Bueno Aires Herald May 31, 2023 22:44 UTC