I hope it goes higher as I exist here on dollars. I do find it par for the course that the Chinese market I buy my wine at jumped prices about 25% last month after they raised them (at least on wine) about 20% a few months back; however, as the blue dollar declined from 330 or so to around 270 there's been no decrease in their prices.
This is the fun of Argentina, when the dollar goes up everyone loses, even people with dollars lol
The problem we have is that when we talk about the dollar we have to ask: which one? Month to date the official dollar has appreciated only 6.06%, which is less than inflation at 7%, and don't get me started on the CCL or Blue since that's completely out of whack and lurches in different directions depending on how the wind is blowing and whatever batshit idea the Ks come up with on a whim via DNU.
All that being said, it's better than the crawling crawling peg of early this year which was ~3.5% a month, but with inflation likely to hit 100%, they need to start doing 8.3% a month minimum to prevent sharp devaluations they keep saying they want to avoid, and to prevent the brecha from growing even further.
If we use this month as a baseline, we'll close out 2022 at ~$171.20 on December 15th, and if the Blue/CCL brecha of 93.01%/110.64% holds, we can expect a Blue ~$330.43 and CCL of ~$360.62.
All this being said, I personally expect the Blue and CCL brecha to grow (once again undermining the government's stated strategy) as today the government announced that those who receive subsidies for utilities will now be prohibited from accessing the MEP/CCL in addition to the "savings" dollar, and there is the expectation of a "Dólar Qatar" (making the dólar tarjeta basically the same as the CCL come October) which will put more pressure on the blue since using todays' CCL/Blue exchange rates it would be 25 pesos per dollar cheaper to buy blue dollars in cash and deposit them to pay for dollar consumptions made via credit cards online/abroad.
Long story short, Ks cut off nose to spite face, sky is blue, and water wet.
