Explicit Argentine Peso devaluation in Q4-2023 – Wells Fargo

FXStreet Insights Team FXStreet

Economists at Wells Fargo discuss the Argentine Peso outlook.

Argentine Peso will be the worst performing emerging market currency in 2023

“Despite sharp interest rate hikes, we believe the Argentine Peso is on track for devaluation as FX reserves remain depleted and the IMF program could be at risk.”

“In our view, a managed depreciation is likely up until the election; however, once presidential elections end in October, we believe an outsized and intentional Peso devaluation will materialize and the Argentine Peso will be the worst performing emerging market currency in 2023.”

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FXStreet Insights Team

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The FXStreet Insights Team is a group of journalists that handpicks selected market observations published by renowned experts. The content includes notes by commercial as well as additional insights by internal and external analysts.

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