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0 sats \ 4 replies \ @john_doe 12 Jan \ parent \ on: Milei is a vintage Latin American populist inflationist - Saifedean thread econ
Sorry for my meaningless comment. Do you mean there is still a black market? I have never been in Argentina, but thought it was gone after Milei. That being said, I don't speak Spanish, not sure how to interpret this chart. Does it mean ARS exchange rate decreased by 40.1% against USD?
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21 sats \ 3 replies \ @ca 12 Jan
The opposite. The peso strengthened against the dollar by +40% in a year.
There are multiple exchange rates imposed by the government. Before liberalising Milei has to fix the balance sheet. They've been accumulating US Dollars. If they removed the currency controls it would have bankrupted the treasury as they didn't have enough US Dollars.
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0 sats \ 2 replies \ @john_doe 12 Jan
And what is the name of the exchange rate you used for measurement to say ARS has strengthened against USD by 40%? The blue one?
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21 sats \ 1 reply \ @ca 13 Jan
Blue 👍
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0 sats \ 0 replies \ @john_doe 13 Jan
I see, thank you. I took a look at this website: https://cuex.com/en/usd-ars_pa And indeed it is striking to see the difference, like a different currency. I didn't know.
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