Argentines Suddenly Need Pesos After Milei Pitched Dollarization

dolar-blue.png
Fact: The dollar blue is up 20% since last month.
Bloomberg: Argentines suddenly need more pesos.
A very smart conclusion.
 
Government reported data is 2 months late. Bloomberg reporter writes about government released data, as they should, though fails to also report on the recent change of blue dollar. Bloomberg editor fails at their job, especially by allowing that headline.

Some 208,000 Argentines sold foreign currency through official channels in April, according to central bank data released Friday, while 51,000 bought dollars or other hard currencies. That builds on a trend that started in January and marks the first reversal of buyers and sellers since at least 2018.
 
carride said:
Some 208,000 Argentines sold foreign currency through official channels in April, according to central bank data released Friday, while 51,000 bought dollars or other hard currencies. That builds on a trend that started in January and marks the first reversal of buyers and sellers since at least 2018.
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It reminds me of a story about a bus driver: Every time someone runs to catch his bus, he sincerely wonders whether that person will make it or not.

The central bank sets an artificially low official dollar price, forcing some people to sell at this price and allowing a few to buy at it. It can tighten controls here and loosen them there. Now, we can observe some interesting tendencies and decide what the Argentines do or don't..
 
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lunar said:
It reminds me of a story about a bus driver: Every time someone runs to catch his bus, he sincerely wonders whether that person will make it or not.
Click to expand...
🤣 I have seen this driver. He and his bus are everywhere, especially in the BA Province.
 
The answer is simple as others have said: dólar planchado + high inflation + only 2% devaluation a month = growing need for pesos, it's not rocket surgery Bloomberg ;)
 
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