The Argentine peso touched a record low of 126.2 per USD in early July, after the abrupt resignation of long-standing economy minister Martin Guzman amid a growing economic crisis and tensions within the government. His departure threatens to further destabilize an economy already shaken by sky-high inflation and growing fears over possible new defaults on debt. Argentina is struggling with 60% inflation and a weak currency, as well as global food and energy price rises. Guzmán had been in office since late 2019 and led recent negotiations with the International Monetary Fund (IMF) over the restructuring of Argentina’s debt. Meanwhile, Silvina Batakis was appointed as Argentina's new economy minister, but investors worry about her lack of experience in formulating major economic policies or negotiating with the IMF. Batakis could also represent a turn toward far-left economic policies, given her ties with Vice President Cristina Fernandez de Kirchner.
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 July of 2022.
The Argentinean Peso is expected to trade at 125.89 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 127.22 in 12 months time.