Pesos in a caja de ahorro... 50% inflation + devaluation. The value of the peso will return how exactly?So it appears that it was on par with the average "smaller big city" in the US or Europe. Any indication that the value of the peso will return? If it did, a lot of people would all of a sudden have good money in the bank. I feel like I should keep around a million pesos in the bank that I don't spend just in case the tide turns one day.
The only risk to your current dollar backed buying power is that the gap between official and blue suddenly reduces significantly and the only way that happens is if the official is devalued significantly. The only way that a major devaluation happens is if the government decide to let the peso go to market (as it did previously) or they simply run out money to keep artificially holding the official where it is (as has also happened previously.)
What could that look like for you in USD terms? Simple. Divide all current prices by 107 and add on a 5-10% for good measure ... that US$8 sushi meal suddenly doesn’t sound so cheap at US$17. In any case, rest assured that the new value in ARS terms would not be 107 - it would be 210+++++, meaning that ARS1M in the caja de ahorro ain’t gonna go any further.
In this situation Argentines who earn in ARS “win”, (after first loosing their savings and a few brutal months of wages not keeping up with living costs causing protests, strikes and wage negotiations until some kind of parataria / adjustment is achieved, again pushing prices higher in real terms....) Gringos who earn in USD and live off the brecha “loose”.