The Argentinian peso, which lost 33.64% against the dollar, became the world's worst performing major currency in 2015, according to a report on the CNN.com. The country's new government had opted for free float in December with the aim of encouraging more foreign investment in the country affected by years of economic mismanagement, it said.
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Peso is followed by Brazil's real, which plunged 33.59% against the dollar during the same year. Among the other three leading losers among global currencies include the South African rand that dropped 25%, triggered by a combination of factors - from a slump in commodity prices hit many of South Africa's biggest companies, besides a widening current account deficit, rising unemployment, at 25%, and high inflation, which is expected to hit 5.6% in 2016, the Turkish lira, losing 21.4% , and the Russian ruble, which fell 17% vis-à-vis the US dollar as the country’s economy was hurt by dramatic collapse in international crude oil prices, in particular.
Image courtesy: pixabay.com
Peso is followed by Brazil's real, which plunged 33.59% against the dollar during the same year. Among the other three leading losers among global currencies include the South African rand that dropped 25%, triggered by a combination of factors - from a slump in commodity prices hit many of South Africa's biggest companies, besides a widening current account deficit, rising unemployment, at 25%, and high inflation, which is expected to hit 5.6% in 2016, the Turkish lira, losing 21.4% , and the Russian ruble, which fell 17% vis-à-vis the US dollar as the country’s economy was hurt by dramatic collapse in international crude oil prices, in particular.
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