Having lost more of its value than any other major currency in the world this century, Argentina’s peso has long been seen as far too unstable to lure carry-trade investors. But in a sign of just how much President Javier Milei has regained the market’s confidence in the wake of his party’s midterm-election victory, evidence is mounting that those investors are starting to pile into the peso.
After a stomach-churning stretch last year, Argentina’s currency has moved in a narrower range since the end of November, tempting foreign-exchange investors looking to harvest the peso’s rich yields.
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