Photo: Jorge Saenz / AP
The American peso, which is called the world’s worst currency, promised another collapse. According to Bloomberg, over the past two years the peso has weakened more likely because of the level of inflation over 50 percent per year.
In early 2020, the Argentine currency was kept at the level close to 60 pesos per dollar. Head of global strategy in emerging markets at BNP Paribas SA Gabriel Gerstein believes that the currency will soon collapse. According to his forecasts, the weakening of the peso could begin in the spring, and by the end of the year the dollar may cost 100 pesos. As of 14 January 2020, one dollar is 59.9 peso.
In the autumn of 2019, the forecaster in emerging market currencies Marcin Lipka said that the Argentine peso will collapse in the coming months by 50 percent and will reach above 100 pesos per dollar. According to him, the collapse of the Argentine currency could be almost as spectacular as the collapse of the Venezuelan Bolivar.
Video, photo All from Russia.