this post was submitted on 02 May 2024
-15 points (28.6% liked)

World News

37347 readers
3277 users here now

A community for discussing events around the World

Rules:

We ask that the users report any comment or post that violate the rules, to use critical thinking when reading, posting or commenting. Users that post off-topic spam, advocate violence, have multiple comments or posts removed, weaponize reports or violate the code of conduct will be banned.

All posts and comments will be reviewed on a case-by-case basis. This means that some content that violates the rules may be allowed, while other content that does not violate the rules may be removed. The moderators retain the right to remove any content and ban users.


Lemmy World Partners

News [email protected]

Politics [email protected]

World Politics [email protected]


Recommendations

For Firefox users, there is media bias / propaganda / fact check plugin.

https://addons.mozilla.org/en-US/firefox/addon/media-bias-fact-check/

founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
[–] [email protected] 2 points 2 months ago* (last edited 2 months ago)

As someone else pointed out, the article takes into account the unofficial or free market exchange rate.

In Argentina we got an official rate established by the government (the one your screenshot shows) where the amount you can exchange is limited.

And then we got the unofficial "blue" rate, which price is determined by the market and the one the article talks about.

When Milei assumes on Dec 10, he devaluates the official rate from around 360 USD/ARS to 820 USD/ARS, to get the official rate closer to the market rate.

From then the government continues to gradually devaluate the official rate to converge with the market one (that's the slope you see).

Before Milei assumed the market rate was 950. The market rate peaked at around 1100 on December, then decreased to around 1000 in the end of January and it's been relatively stable since.