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Isn't a 20% margin sufficient for arbitrage?

Nevertheless, in August, a surge in the official exchange rate, rising from 300 to 367 Pesos per Dollar, caused the Blue Dollar rate to increase from 605 to 720. What has changed in the current scenario?

Panama doesn't quite fit the typical scenario of dollarization. As I understand it, both the Balboa and the Dollar were established as legal tender in newly independent Panama back in 1904. While USD banknotes are in circulation (I've never encountered a Balboa banknote, if they exist), the coin...

No, I really don't crave that level of excitement in my life. I arrived in Ecuador well after the transition, approximately 15 years later, during the latter part of Correa's presidency. I happened to be there during the 2016 7.8 earthquake in Esmeraldas, which was quite an unexpected...

It's even more problematic. When the Euro was introduced, prices did surge initially, as you mentioned. However, due to the availability of small-denomination Euro coins, there was no persistent inflationary trend. Exact prices could be set, paid, and precise change given. In the case of...