Argentine peso plummets as political risk rises

Rising inflation and recession increase popularity of former president Cristina Kirchner

Argentine peso - Getty.jpg

The Argentine peso has fallen sharply amid heightened political risk, as higher inflation and a protracted recession boost the popularity of Cristina Kirchner ahead of elections in October.

On April 25, the currency declined by 2.5% and closed at 43.9 against the US dollar. In 2019 so far, it has lost 16.3% of its value against the greenback. This is hampering efforts by the Argentine authorities to tame inflation.

On April 16, official data said inflation had sharply increased in March. Month

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