Argentina's Carry Trade Return Reaches 19.3% in 2026
What happened
Delphos Investment calculated that the carry trade in Argentina returned 19.3% in dollars so far in 2026. This places Argentina third among emerging-market currencies, behind Colombia, which returned about 30%. The trade involves selling dollars for pesos, earning local interest, and later buying dollars back.
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Why it matters
The return was driven by peso interest adding up to about 22% this year, while the exchange rate only rose about 4%. This contrasts with consumer prices, which rose 23.6% over the same period.
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Who's involved
- ArgentinaThe country whose carry trade return was calculated.
- central bankThe institution that manages the state's currency and interest rates.
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- central bankSpeculative
The central bank's interest rate policy might influence the attractiveness of the carry trade for international investors.