Argentine exporters reach monthly high in soybean exchange rate settlements on Wednesday

On May 25th, Wednesday, Argentine exporters settled $332 million in soybean dollar exchange rates, setting a record high for the month and the highest since April 13th. In comparison, exports were $66 million on Tuesday and $94.2 million on Monday. On Wednesday, the Central Bank of Argentina sold about $222 million at the official exchange rate of 235.75 pesos to meet importers’ demands, resulting in a net increase of approximately $111 million in foreign reserves, marking the 14th consecutive day of growth.