Pegging<\/a> the official exchange rate is complex because inflation will have eroded any competitiveness gains obtained with the devaluation after the primaries,” said Lorenzo Sigaut Gravina, research director at Equilibra.<\/p>\n“That is why, following a few weeks of calm, we expect a significant adjustment in the official exchange rate towards the end of the year … the IMF will demand another correction to make new disbursements,” he added.<\/p>\n
The Fund, which Argentine media says has questioned the complicated currency scheme of multiple rates, acknowledged “upfront efforts to strengthen the FX regime” as it released a tranche of the country’s credit line after the devaluation.<\/p>\n
In 12 months, the peso is forecast to weaken 65% to trade at 1,004 per dollar. In freely traded parallel markets, it is already quoted closer to that level, at around 720, for a nearly 100% spread over the official rate.<\/p>\n
Current President Alberto Fernandez and Economy Minister Sergio Massa – who the Peronists chose as their candidate to replace Fernandez – blame this year’s drought, opposition tactics, and corporate greed for Argentina’s economic woes.<\/p>\n
By contrast, the main political contenders Javier Milei and Patricia Bullrich, whose parties relegated the Peronists to a third place in the primary, point to excessive spending and money printing as the roots of Argentina’s financial ordeal.<\/p>\n
“The government will have to devalue again because it’s running out of gas – whether it’s after the presidential vote or the second round, that will depend on the results,” Gabriel Caama\u00f1o, managing partner at Consultora Ledesma, said.<\/p>\n
So far in 2023, the Argentine peso is down 50%. The Brazilian real and the Mexican peso, Latin America’s top currencies, have gained 6.4% and nearly 12% respectively.<\/p>\n
In one year, the real is expected to trade at 5.03 per dollar, just 1.2% weaker than its value on Tuesday. The Mexican peso is also seen with a relatively small loss of 2.3% in 12 months, changing hands at 17.84 per dollar.<\/p>\n
(For other stories from the September Reuters foreign exchange poll:)<\/strong><\/u><\/p>\n(Reporting and polling by Gabriel Burin in Buenos Aires; Additional polling by Devayani Sathyan, Pranoy Krishna and Sujith Pai in Bengaluru; Editing by Alison Williams)<\/p>\n","protected":false},"excerpt":{"rendered":"
website poll data on Brazil real * website poll data on Argentine peso * website poll data on Mexican peso By Gabriel Burin BUENOS AIRES, Sept 7 (Reuters) – Argentina’s troubled peso currency is at risk of suffering another devaluation after October’s presidential election or a potential second round in November, a Reuters poll of […]<\/p>\n","protected":false},"author":4004,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1309],"tags":[1319],"class_list":["post-8144","post","type-post","status-publish","format-standard","hentry","category-sex-pills","tag-sex-pills"],"_links":{"self":[{"href":"https:\/\/river-gas.com\/index.php\/wp-json\/wp\/v2\/posts\/8144","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/river-gas.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/river-gas.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/river-gas.com\/index.php\/wp-json\/wp\/v2\/users\/4004"}],"replies":[{"embeddable":true,"href":"https:\/\/river-gas.com\/index.php\/wp-json\/wp\/v2\/comments?post=8144"}],"version-history":[{"count":1,"href":"https:\/\/river-gas.com\/index.php\/wp-json\/wp\/v2\/posts\/8144\/revisions"}],"predecessor-version":[{"id":8145,"href":"https:\/\/river-gas.com\/index.php\/wp-json\/wp\/v2\/posts\/8144\/revisions\/8145"}],"wp:attachment":[{"href":"https:\/\/river-gas.com\/index.php\/wp-json\/wp\/v2\/media?parent=8144"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/river-gas.com\/index.php\/wp-json\/wp\/v2\/categories?post=8144"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/river-gas.com\/index.php\/wp-json\/wp\/v2\/tags?post=8144"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}