Four months into office, Argentine President Javier Milei has pulled off a critical feat in a country long ravaged by runaway inflation: He stabilized the currency.
I know it might be difficult to understand because not every country has these extreme currency controls, but Argentina has more than one currency exchange. The parallel one, blue market is the most used one and the one Bloomberg takes note of
You can get data to tell any story you want if you choose your own presentation. Sure, it might be up a lot, but that’s only from the record low three months ago, and it’s positively skyrocketed from 0.00066 USD to… a whopping 0.00097 USD. (And before anyone accuses me of Americentrism, it’s followed the yuan and ruble similarly.) Compared to six months ago, it’s down slightly, and compared to a year ago, it’s down about 55%, still pretty bad.
I know it might be difficult to understand because not every country has these extreme currency controls, but Argentina has more than one currency exchange. The parallel one, blue market is the most used one and the one Bloomberg takes note of
Here:
You can get data to tell any story you want if you choose your own presentation. Sure, it might be up a lot, but that’s only from the record low three months ago, and it’s positively skyrocketed from 0.00066 USD to… a whopping 0.00097 USD. (And before anyone accuses me of Americentrism, it’s followed the yuan and ruble similarly.) Compared to six months ago, it’s down slightly, and compared to a year ago, it’s down about 55%, still pretty bad.