At one end of the Plaza de Mayo in Buenos Aires, within sight of the Presidential Palace, Pablo is discreetly offering passers-by “change…cambio…dollars”.
“You understand this is the “blue” rate, not official,” he explains as we walk down a narrow passage off the main road, “we can give you 15 pesos to the dollar.” The official rate is closer to 9 pesos to the dollar.
It is tough for exporters to Argentina today – the government tightly controls access to foreign currency. But Argentina remains dependent on imports, and the government is running out of money to support the double exchange rate.
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