LatinNews Daily - 23 September 2022

In brief: Argentine minister touts ‘soy dollar’ success

* Argentina’s government has hailed the success of the “soy dollar”, a preferential exchange rate that was rolled out for soybean farmers in September in a bid to boost exports and increase foreign currency reserves. Speaking to the local press, Agriculture Minister Juan José Bahillo said that the economy ministry’s target for soybean exporters to convert US$5bn into Argentine pesos in September had been surpassed with ten days remaining in the month, meaning they were likely to exceed the expected amount by 25%. Argentina’s economy minister, Sergio Massa, announced the measure on 4 September, allowing producers to exchange foreign currency gained from soybean exports at Ar$200 to the US dollar, rather than the official rate of Ar$140 per US dollar.

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