The Argentine peso depreciated further to cross 75.8 against the greenback, its lowest level on record, amid fears over a deep economic recession, mounting concerns over surging coronavirus infections and the central bank's latest round of measures to tighten capital controls. The latest data showed Argentina's economy shrank by a record 19.1% over a year earlier in Q2 amid the COVID-19 crisis, while the unemployment rate hit a 16-year high of 13.1% in the same period. On September 15th, the country's central bank tightened controls on buying dollars in the foreign exchange market, transactions involving dollar-denominated bonds and credit card purchases made in foreign currency.
Historically, the Argentinean Peso reached an all time high of 14850 in September of 2020. Argentinean Peso - data, forecasts, historical chart - was last updated on September of 2020.
The Argentinean Peso is expected to trade at 77.16 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 81.76 in 12 months time.