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Argentina peso at risk of another devaluation after election, Reuters poll shows

THE 7TH OF SEPTEMBER (Reuters) - According to a Reuters survey of analysts, Argentina's struggling peso currency could experience yet another devaluation following the October presidential election or a potential second round in November.

The Peronist government devalued the benchmark official currency rate last month by roughly 18% and fixed it at 350 per dollar in the wake of a crucial primary election as part of an agreement with the International Monetary Fund (IMF).

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But as of right moment, the median prediction of 19 experts surveyed from September 1 to 5 predicts that it would trade at 419.8 per dollar in three months. This would suggest a 16.6% devaluation following the referendum on October 22 and maybe a second vote on November 19.

Only one person predicted that the peso would remain essentially steady at 355 pesos to the dollar throughout the period, while all of the other respondents predicted that the peg would break, with predictions ranging from 383.8 to Goldman Sachs' forecast of 700 pesos to the dollar.

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Daniel Jack

For Daniel, journalism is a way of life. He lives and breathes art and anything even remotely related to it. Politics, Cinema, books, music, fashion are a part of his lifestyle.