Analysis: Argentine Peso Worst Emerging Market Currency for Sixth Consecutive Year

The peso's decade of decline has beleaguered both right- and left-wing governments. President Cristina Kirchner tried to limit the decline by imposing exchange controls, which her successor Mauricio Macri abolished then reinstated.

RIO DE JANEIRO, BRAZIL - Some things never change. The Argentine peso is set to close 2020 as the worst-performing currency among emerging markets for the sixth year in a row.

Or, to put it in perspective, this would be the eighth year of the last nine amid persistently high inflation.

This is the result of a decade of policy twists and turns that have left the once-rich economy in ruins. Moreover, there is no end in sight for the fall of the Argentine peso in the spot market, even as the scenario for emerging markets improves next year . . .

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