🇦🇷 Argentina appears to have found a way to manage U.S. dollar demand, transitioning from a currency-controlled economy to a free-floating band system without major devaluation!

Under President Milei's leadership, the dollar exchange rate fell to nearly 1,100 pesos, marking a 4% intraday drop.

Dollar futures also dropped close to 6%, signaling expectations for further declines, potentially reaching the central bank's intervention point at 1,000 pesos.

Economy Minister Luis Caputo celebrated this achievement, dismissing critics who predicted a massive devaluation. He stated, "Once again, we did what we said we were going to do."

However, challenges remain, as exporters may hesitate to liquidate dollars at the low exchange rate, and the dollar's weakness in international markets could complicate matters.

What are your thoughts on Argentina's economic strategy? Let us know! 👇