Replying to Avatar jimmysong

For those that haven't been to Argentina, you have to realize, there are two rates. The "official" rate and the Blue dollar rate. The Blue rate is the real rate. That's what everyone uses when you're buying anything in Argentina.

The official rate is only used for credit cards when foreigners are stupid enough to use them. It's a way for the government and banks to rent-seek.

The devaluation is just bringing the official rate to be the same as the Blue Dollar rate, nothing more. It's not some grand conspiracy. It's just recognizing reality.
Avatar
I’m Jin 2y ago

Since last year, there is a “dolar mep” which is used for foreign credit card. And it’s similar to “blue dollar”. So I don’t understand when the official rate is used.

Reply to this note

Please Login to reply.

Discussion

Avatar
franciscojs 2y ago

To steal from the exporters of goods and services as they are force to get ARS at official rate when doing business. And also to help friends import at lower than market price

Avatar
I’m Jin 2y ago

La puta madre… that’s ridiculous