The Argentine peso depreciated further to cross 68.7 against the USD, its lowest level on record, amid persistent debt concerns, the impact of the coronavirus pandemic and fears over a deep recession. On Monday, Argentina’s government announced an extention of the debt negotiations deadline to June 12th. The additional extension comes after the country missed payments on around $500 million in already delayed bond coupons on May 22nd, marking the ninth sovereign default.
Historically, the Argentinean Peso reached an all time high of 68.89 in June of 2020. Argentinean Peso - data, forecasts, historical chart - was last updated on June of 2020.
The Argentinean Peso is expected to trade at 70.16 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 74.35 in 12 months time.