In 2024, the Argentine peso strengthened in real terms more than any other currency in the world, rising by 44.2% against the US dollar. This performance more than doubled that of the Turkish lira, which secured second place with a 21.2% appreciation.
The national currency of Argentina saw significant growth after seven consecutive years of decline. This strengthening is one of the outcomes of President Javier Milei's economic policies aimed at stabilizing the country's economy, which was on the brink of hyperinflation at the time he took office.
Milei focused on strict austerity measures and maintaining tight currency controls. The appreciation of the peso resulted in an increase in average salaries in dollar terms, which doubled to $990.