Chief Argentine Supreme Court Judge Horacio Rosatti said the dollarization plan proposed by presidential candidate Javier Milei is “unconstitutional” because it would abolish the national currency, the peso. “If a dollarization [plan] eliminates the Argentine currency, that’s unconstitutional. Article 75 of the Argentine Constitution establishes the country have a Central Bank and a currency whose value must be protected. As an example, Rosatti cited the convertibility period of the 1990s, when the peso was pegged to the dollar one-to-one. The CCL dollar rate was AR$735.1 per US dollar at the time of writing.

Source: Bueno Aires Herald September 20, 2023 03:45 UTC