Argentina’s peso will weaken even further, BNP forecaster

Argentina’s peso, the world’s worst-performing currency against the dollar in nominal terms in both 2018 and 2019, has nowhere to go but down, according to Gabriel Gersztein, the Sao Paulo-based head of global emerging-markets strategy at BNP Paribas SA. While Gersztein expects capital controls will stay put, he’s betting that the government would eventually allow the spot peso to weaken by March or April, and predicts the peso will reach 100 pesos per dollar by the end of 2020, a 40% decline from the official rate now.

Source: Bloomberg