Thanks to Macri, Brazil's Real No Longer Worst Emerging Currency

Argentina's Macri Fulfils Free-Floating Peso Pledge

By fulfilling his campaign pledge to let the Argentinian peso trade freely, President Mauricio Macri did Brazil a nice neighborly favor. The real had been the worst-performing major emerging-market currency for months. Now that distinction belongs to the peso.

Emering Markets Currency Rankings
Emering Markets Currency Rankings

The peso fell against the U.S. dollar as soon as it started trading Thursday. As of mid-morning in New York, it was down 39 percent this year, compared with 32 percent for the real.

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