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Banking What is going on with the Blue dollar? Why is it going down?

So, today the Central Bank scooped up 23 million dollars, and that might just make the blue dollar keep going up.

Plus, their reserves are dropping, which freaks people out about the peso's stability. When folks feel like the peso isn’t safe, they rush to buy dollars, and that pushes the blue dollar price even higher. So yeah, with these buys, I wouldn’t be surprised if the blue dollar just keeps climbing.

Let's see if they can build up any significant reserves. Net reserves are still negative.
 
The game will eventually end.

I just don't understand how Argentina can have such high inflation in Dollars. The Argentina treasury department issues debt that yields 24% in dollars. The market has sucked up the pesos. With those pesos it buys dollars from the Central Bank. Those dollars are put to work in the USA as a guarantee for the bonds. The "debt" sounds like it is still growing.

What am I missing here?
 
I just don't understand how Argentina can have such high inflation in Dollars. The Argentina treasury department issues debt that yields 24% in dollars. The market has sucked up the pesos. With those pesos it buys dollars from the Central Bank. Those dollars are put to work in the USA as a guarantee for the bonds. The "debt" sounds like it is still growing.

What am I missing here?
This is what it looks like. Under their current scheme it doesn't sound like the debt is going down. Many in Argentina think the same thing. I follow this guy on X and he has been sounding the alarm.

 
Here is a great article on the carry trade issue. My guess is once people start rushing out it will go quickly and a race to the exits same as before.

 
It's incredible that the dollar is dropping so much, a little each day. Will they equalize soon? It's 1105 today to exchange my dollars. 😥


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There’s almost no difference between the blue and MEP dollar now... today it remains the same as yesterday.

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From what I am told the exchange rate is all distorted because of all this cash from the amnesty. I wonder how things will go with exchange rate once the amnesty ends? My friends are having to pay 5% to wire in funds with the cuevas since there is so much demand for dollars. So even though the government isn't charging them it is wild that cuevas are charging 5% to bring cash into Argentina so they can deposit it into banks. Wild!
 
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