Argentine minister announces new dollar rate for winemakers
New bid to help exporters and build reserves after success of soy dollar
Argentina’s economy minister, Sergio Massa, told the country’s winemakers’ association he would provide a favourable exchange rate for them, as the Central Bank of Argentina (BCRA) looks to bolster its reserves.
The move builds on the “soy dollar” initiative last year, which offered a premium rate for dollars earned by soy exporters. The first soy dollar programme attracted $5 billion to the BCRA’s reserves.
Speaking on March 4, Massa said the measure would help winemakers improve their
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