Exporters in Argentina are required to convert all their export earnings into pesos at the official exchange rate, which is currently frozen at AR$350 until October. However, the wide gap between the official rate and the financial exchange rates often prompts producers to hold stock in expectations that the official rate will decline. According to the decree published in the Official Bulletin, 75% of export earnings will enter the country in dollars and be liquidated in pesos at the official exchange rate. For the remaining 25%, exporters will be able to access dollars (without exchanging them for pesos) but only if they use those dollars to purchase soybeans to produce oil or pellets. Tthe official exchange rate at the time was AR$214.

Source: Bueno Aires Herald September 06, 2023 13:03 UTC