# Argentina Carry Trade Ranks Third at 19% > Argentina's carry trade returns 19.3% in dollars, third among emerging markets. - Title: Argentina Carry Trade Ranks Third at 19% · The Rio Times - Summary: Argentina's carry trade returns 19.3% in dollars, third among emerging markets. US investors earn 19.3% from Argentina's carry trade as peso stays steady… - Keywords: argentina, carry trade, dollar, peso, emerging markets, central bank, interest rates, consumer prices, 2026, delphos investment, iprofesional, el cronista - Source: The Rio Times — https://riotimesonline.com/argentina-carry-trade-dollar-gain-2026 - Author: Contributing Reporter - Published: 2026-10-18T06:37:31+00:00 - Read time: 1 min - Topics: argentina, carry trade, dollar, peso, emerging markets, central bank, interest rates, consumer prices, 2026, delphos investment, iprofesional, el cronista ## Argentina Carry Trade Argentina's carry trade returned 19.3% in dollars so far in 2026, third among emerging-market currencies. > The carry trade returned 19.3% in dollars so far in 2026 ## Why It Matters US investors see what a steady peso paid in 2026 while visitors find prices rising faster than the exchange rate. > US investors see what a steady peso paid in 2026 ## Key Numbers Peso interest earned 22%, dollar rose 4%, consumer prices rose 23.6% in 2026. > Peso interest earned about 22%, the dollar rose about 4% and consumer prices rose 23.6% ## How It Works Sell dollars, earn interest in pesos, buy dollars back later if peso stays steady. > A carry trade has three steps: sell dollars, put the pesos into an interest-bearing instrument, and later buy dollars back ## Ranking Argentina ranks third behind Colombia at 30% and Brazil at 20% among emerging-market currencies. > Delphos ranks Argentina third among emerging-market currencies, behind Colombia at about 30% and Brazil at about 20% ## Real Terms Peso gained strength in real terms with a 13.2% fall in the real exchange rate against the dollar. > Delphos puts the fall in the real exchange rate against the dollar at 13.2% ## Comparison Return is more than five times US annual inflation and almost three times a top Argentine company's dollar bond yield. > iProfesional compared the gain with other yields, calling it more than five times US annual inflation ## Central Bank Central bank's wholesale reference rate rose from 1,459.42 to 1,514.57 per dollar in 2026. > The central bank's wholesale reference rate was 1,459.42 per dollar on 30 December 2025. By 16 October 2026 it was 1,514.57 ## Election Risk 2027 election campaign could pressure peso as investors move into dollar assets. > Next year looks different, because election uncertainty in 2027 could put pressure on the peso ## Prediction Markets 52.5% chance official peso rate ends 2026 below 1,600 per dollar according to Polymarket. > Polymarket gives a 52.5% chance that the official peso rate ends 2026 below 1,600 per dollar ## What It Means US investors earn 19.3% from steady peso while visitors face higher prices due to inflation. > For US investors, the result shows what a steady peso paid in 2026 ## What's Next Central bank may buy dollars before 2027 election as peso stays calm. > Still open whether the peso stays calm as the 2027 election campaign approaches ## Still Open Peso stability and central bank dollar purchases remain uncertain before 2027 election. > Still open whether the peso stays calm as the 2027 election campaign approaches ## Key takeaway US investors earn 19.3% from Argentina's carry trade as peso stays steady against dollar.