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4w ago

Argentina Reaffirms Peso Appreciation Strategy and June 30 Tax Deadline

Government officials emphasize inflation control and advise exporters to sell grain now as the peso strengthens within its managed exchange rate band.

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El agro y el Ejecutivo tensan por las divisas extranjeras.
Ante la expectativa de apreciación de la moneda, los inversores eligen los mejores instrumentos con mejor retorno. 
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Overview

  • Argentina's economic team confirmed the peso will continue to appreciate toward the lower band of its exchange rate range, targeting approximately 1,000 pesos per dollar, without devaluation.
  • Export duties are temporarily reduced but will revert to previous levels on June 30, as part of the government's broader tax reform plans.
  • Officials advised agricultural exporters to sell grain now, citing expectations of a falling exchange rate and the limited window for reduced export duties.
  • Outbound tourism surged nearly 99% year-on-year in March, while inbound tourism dropped 24%, reflecting the stronger peso's impact on travel dynamics.
  • The government received a $12 billion IMF advance to bolster foreign reserves, with medium-term plans to transition to a floating exchange rate regime.