The Argentine peso was trading around an all-time low of 72.5 against the USD, but strengthened 6.3% to 128 per dollar in the black market, after the country’s government said in a statement that it had reached a deal with three creditors groups to restructure $65 billion in sovereign debt. The government added that the agreement would provide “significant debt relief” and that interest and capital payment dates for some new exchange bonds were moved forward to reach the deal. Argentina’s Economy Minister Guzman said it would extend the deadline for creditors to formally accept the new deal to August 24th, while the settlement date remain September 4th. The South American country defaulted for the ninth time in its history, failing to pay $500 million of interest on its bond debt.
Historically, the Argentinean Peso reached an all time high of 72.76 in August of 2020. Argentinean Peso - data, forecasts, historical chart - was last updated on August of 2020.
The Argentinean Peso is expected to trade at 74.11 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 78.53 in 12 months time.