To add some detail to the specific situation of the Argentine FX market.... after months of the Farm Strike, farmers have been liquidating stocks of grains & oilseeds, this means that they are shipping out crops to foreign markets and collecting USD, which according to Argentine FX regulations need to be brought into the country and exchanged for Pesos to enter the financial system... this means plenty of USD available in the spot market and hence downward pressure on the price of the Dollar vs. the Peso.