Reported 2 days ago
In the past year, President Javier Milei has succeeded in changing Argentines' long-standing preference for the US dollar over their local peso. Through maintaining currency controls, reducing government spending, and implementing unorthodox economic measures, Milei's administration has decreased the amount of pesos in circulation and narrowed the gap between official and parallel exchange rates. However, despite these advancements, challenges such as a lack of central bank reserves and economic adjustments continue to complicate a complete return to a free exchange rate.
Source: YAHOO