Did you read the NBC article you posted?
It says right in there that the Argentine government devalued the currency 20% themselves -- then blamed it on Milei for no reason.
It is a scam headline by NBC. What did you really expect?
Discussion
Scam headline. Where can I edit my post?
Lol!
God bless you sir and God bless Argentina!!
The yearly chart looked so artificial. Here is a chart showing the street value of a USD.
So the elections were on Sunday August 13th for which my chart registered an up-tick of 80 pesos per USD from 605 to 685. By Monday the street value was up 20% at 730. The central bank devalued 20% that day. By Tuesday, the street value rose to 780.
I don't know how all this works and how the actual order of events was but clearly a central bank can keep lying for only so long, so while they can time their "honesty" with events they don't like, Milei very likely is bad for the ARS as he wants to abandon it.
Argentine peso may lose value... or maybe it will gain value because the central banks will be forced to stop devaluing it... And it will still be accepted for payments of goods and services and taxes even after U.S. dollar and Bitcoin become legal tender .
We will see!