Argentine exporters settle $66 million in soybean dollar exchange rate through third round

Argentine exporters settled $66 million in soybean dollar exchange rate on Tuesday, a 29.9% decrease from Monday’s $94.2 million. On Tuesday, the Argentine Central Bank sold about $52 million at the official exchange rate of 234.95 pesos to pay for imported energy, which led to a net increase of about $14 million in foreign reserves, marking the 13th consecutive day of growth. In the first four months of this year, Argentina’s exports of grains and oilseeds decreased by $8 billion compared to the same period last year. As of May 15th, the Argentine Central Bank’s foreign reserves stood at $33.477 billion, down $11.111 billion or 24.9% from the end of 2022.