Argentine Peso to Slide 70% by Next Year, BofA Says
- Official rate seen weakening from 350 to 1,193 by end-2024
- Strategists expect winner of elections to further devalue peso
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The worst is yet to come for the Argentina peso, already the world’s weakest currency this year, according to Bank of America Corp. strategists.
The official exchange rate will weaken to 545 per dollar for the end of this year and then slump to 1,193 by the end of 2024, as the bank’s strategists expect the winner of the country’s presidential elections to further devalue the peso starting in December.