Argentine Peso Forwards at Record Show Devaluation Bet for 2016
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Argentine peso forwards show traders are betting President Cristina Fernandez de Kirchner’s successor will devalue the peso early in the next administration.
Argentina’s non-deliverable peso forwards due in 12 months, which allow traders to bet on the future price of the currency, weakened as much as 0.3 percent Wednesday to a record 13.09 per dollar. The contracts imply the currency will plunge 32 percent over the next year.