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Through conversations with locals, I understood why. President Milei’s initial action was severely devaluing the Argentine Peso, making dollar-denominated goods more expensive.
Not true. A year ago blue dollar rate was approximately the same as now [1], and the official USD-Peso rate has been rising more slowly than before Milei. [2]
The second graph you link to seems—unless I’m missing something? - to confirm the point you’re trying to use it to rebut: set the x axis to five years and you can absolutely see a massive jump where Milei changed the exchange rate.
(Regardless, strong-upvoted for picking holes and citing sources.)
Ah, ok, I didn’t know when exactly Milei has started being the president. I didn’t pay attention to the jump. The original post said “1 year” so I counted off one year (right after the jump) and saw that the slope was smaller than before. But you’re right, yeah. But I must also point out that this is the official rate and idk of anyone actually uses it.
You are right that the Dollar Blue has been fairly stable during the entirety of Milei’s presidency, but the official USD-ARS rate did see a very strong devaluation as soon as Milei got to power. Your own second source points to that.
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Not true. A year ago blue dollar rate was approximately the same as now [1], and the official USD-Peso rate has been rising more slowly than before Milei. [2]
1: https://es.investing.com/currencies/usd-arsb
2: https://es.finance.yahoo.com/quote/USDARS=X/
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The second graph you link to seems—unless I’m missing something? - to confirm the point you’re trying to use it to rebut: set the x axis to five years and you can absolutely see a massive jump where Milei changed the exchange rate.
(Regardless, strong-upvoted for picking holes and citing sources.)
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Ah, ok, I didn’t know when exactly Milei has started being the president. I didn’t pay attention to the jump. The original post said “1 year” so I counted off one year (right after the jump) and saw that the slope was smaller than before. But you’re right, yeah. But I must also point out that this is the official rate and idk of anyone actually uses it.
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For the purposes on legal imports, that was the reference rate. So many products where indexed at that rate.
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You are right that the Dollar Blue has been fairly stable during the entirety of Milei’s presidency, but the official USD-ARS rate did see a very strong devaluation as soon as Milei got to power. Your own second source points to that.
https://www.bbc.com/news/business-67688727
https://www.reuters.com/markets/markets-greet-argentinas-tough-pill-fix-economy-with-cautious-optimism-2023-12-13/