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Argentina: New Exchange Rate Bands System (1000-1400 ARS/USD)? Its Possible Impact on USDT/ARS
After the end of the "cepo", there is talk of a new scheme for the official dollar in Argentina: a system of exchange rate bands, with a floor at 1000 ARS and a ceiling at 1400 ARS per USD.
What does it mean? Theoretically, the Central Bank would intervene by buying dollars if the official price drops to 1000, and selling if it rises to 1400, to keep it within that range.
How does this affect the USDT/ARS that we see in #Binance ? 🤔
It is crucial to understand:
They are distinct markets: The USDT/ARS reflects the price of the dollar in the crypto/paralelo market, NOT the official rate.
What does it mean? Theoretically, the Central Bank would intervene by buying dollars if the official price drops to 1000, and selling if it rises to 1400, to keep it within that range.
How does this affect the USDT/ARS that we see in #Binance ? 🤔
It is crucial to understand:
They are distinct markets: The USDT/ARS reflects the price of the dollar in the crypto/paralelo market, NOT the official rate.
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