RastermanToday Milei’s administration removed the currency controls put in place by president No Balls in 2019, then abused by the far left in 2020-2023 to prevent people from legally exchanging pesos for dollars.
The government used to determine how many ARS you need to buy 1 USD. There’s the official value (the government limits how many USD you can buy per month) and the black market value, which is higher and is the real value of the dollar.
What Milei did is a major accomplishment and the price of the ARS relative to the USD has remained stable, with the black market value (the real value) even going down.
Back in 2023, during the campaign, the media had this chart to let us know what 1 USD would cost under each candidate’s administration:
Value of the dollar (official and black market) after October 23rd (first voting round) according to each candidate:
- Bullrich (centre): 500 // 1000
- Massa (far left): 365 // 980
- Milei (far right): unlimited devaluation // as high as possible
It’s one of those “you don’t hate the media enough” kind of moments. :pepe_comfy:
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