The end of the dollar

The end of the dollar

The greenback is the global reserve currency, but its preeminent position is not guaranteed. Could it finally be knocked off its perch – and if so, what could take its place?

According to the latest data from the Central Bank, during the last year the number of Argentines buying dollars was reduced considerably, but the number of people who have to sell them in order to survive grew. In one year the number of households that had to sacrifice savings to reach the end of the month went from 44.6% to 49.2%. Read more

Live: The dollar fell by 9% against a basket of...

The procedure is very simple. There are financial institutions that are managed only by the face-to-face channel. In that case, you have to attend a branch, with ID in hand. The release of the exchange rate quota led to the opening of thousands of savings boxes in dollars in a matter of hours and it is estimated that many more will open in the short term. Of course, for that, you must comply with a series of requirements informed by virtual bank…

The partial opening of the exchange rate quota promoted by the government of Javier Milei provoked a strong movement in the foreign exchange market on its first day, with a demand of 550 million dollars. However, the enthusiasm lasted little: in the following days, purchases dropped abruptly, according to official data from the Central Bank (BCRA). On Monday, the flow of operations was so high that the homebanking systems of several banks collap…

In turn, the openings of accounts of the US currency in banks were fivefold, where, with the new scheme, up to $100,000 can be purchased in the day.