The dollar has long been a safe haven from the peso, with citizens buying the currency whenever they can, as a form of savings and protection from their currency's volatility. The dollar has long been a safe haven from the peso, with people buying the currency whenever they can as a form of savings and protection from their currency's volatility. The peso ... isn't worth excrement," Milei told a local radio station just days after saying that a higher dollar rate would make it easier to dollarize the economy. The Central Bank issued a statement on Monday saying "the Argentine financial system presents a solid situation of solvency, capitalization, liquidity and provisioning." Economists say his plans to dollarize the economy are not feasible, notably because the country is so short on dollars.

Source: Daily Nation October 10, 2023 16:10 UTC