Ignacio Juncos is a PhD student in economics at the National University of Córdoba in Argentina.

January 6, 2024

Analysis

External Imbalance

Inflation, exchange rates, and the Argentine peso

In August 2023, a week after winning Argentina’s primary elections, now-president Javier Milei, publicly stated that the Argentine peso was “worth less than excrement.” In the next two days, the dollar-peso parallel exchange rate climbed almost 20 percent, intensifying the…