17 August 2023
The Argentina peso, already this year’s weakest global currency, is predicted to plummet further, warns Bank of America Corp. strategists. Expectations are that the rate might sink to 545 per dollar by year’s end and drastically tumble to 1,193 by 2024. Following electoral losses, the government devalued the peso by 18%, exacerbating Argentina’s economic challenges. Key concerns include political instability, impending general elections, inflation, and mounting national debt.