The Argentine Peso Was NOT The Most-Devalued Currency Of 2023

The currencies of two countries, Lebanon and Argentina, experienced significant devaluations against the dollar last year. The Lebanese pound recorded the highest loss, depreciating by 89.89 percent. Following closely is the Argentine peso, which lost nearly 78 percent of its value. Argentina also holds the record for the highest number of years with negative GDP growth in the last half-century, totaling 21 years between 1971 and 2022. Additionally, Argentina ranked as the fourth country with the highest inflation rate in the world last year, according to the latest data.