The place of the Argentine peso among the most devalued currencies in the world

The Argentine peso is one of the ten most devalued currencies in the world in the first eight months of the year.

According to the classification of “Foreign exchange observatory” Johns Hopkins University economist Steve Hanke (Currency Watchlist) ranks number 6, behind the currencies of struggling countries.

However, according to a report from a local consultancy firm, the real exchange rate (after inflation) of the Argentine currency against the official dollar appreciated 1.5% in August and will reach the primary, open, simultaneous. and compulsory (STEP) on September 12, with a real appreciation of 9.5% and general ones, in November, of 11%.

According to Hanke, as of August 27, the currency that has depreciated the most in nominal terms since January 1 was the Bolivar from Venezuela: 98.76%.

This was followed by the pound Lebanese (-86.76%), the dollar of Zimbabwe (-84.47), the Sudanese pound (-80.45), syrian pound (-73.10) and in sixth place the Argentine peso (-57.69).

The top 10 is completed by the Iranian rial, the Turkmen manat, the Ethiopian birr and the Nigerian naira.

Hanke’s calculations are based on nominal prices and inflation rates estimated on the basis of “Purchasing Power Parity”, which in Argentina’s case was three times higher than official inflation l ‘last year.