Argentina's peso has seen the strongest real-terms appreciation in 2024, fueling President Javier Milei's popularity. While this has boosted incomes and reversed years of depreciation, economists warn of sustainability risks due to dwindling foreign reserves and potential external shocks.
The Argentine peso strengthened more in real terms than any other currency in 2024, boosting the popularity of libertarian President Javier Milei even as economists question the sustainability of high prices in Argentina. The peso strengthened 44.
“Argentina has always looked to a weaker exchange rate to solve our competitiveness problems, and it has generated many crises in our history,” said Nery Persichini, head of research at GMA Capital. “Now times are changing.” Pressure for an official devaluation has eased in the short term with the peso’s strengthening on the black market and parallel markets over the past six months.
ARGENTINA PESO CURRENCY INFLATION ECONOMY
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