After Decade of Slumps, Argentine Peso Becomes Surprise ‘Haven’

 

For more than a decade, investors could rely on the Argentine peso to do one thing — plunge. Now, as the war in Iran roils global markets, it’s thriving.

The peso was one of two developing currencies to gain against the dollar in March, when the MSCI total return index for emerging FX saw it’s worst monthly tumble since 2022 as traders reassessed odds of interest-rate cuts and higher energy costs since the start of the conflict.

https://www.bloomberg.com/news/articles/2026-04-01/after-decade-of-slumps-argentine-peso-becomes-surprise-haven