Part 2/10:

Much of Argentina’s recent economic turmoil can be traced back to the unstable Argentine peso. Prior to Mille’s tenure, the peso had two distinct exchange rates: the official rate managed by the government and the unofficial or “blue” rate which reflected market realities. At the end of 2023, the official rate was around 370 pesos to the dollar, while the unofficial rate hovered near 1,000 pesos per dollar, illustrating a significant gap.