Argentina diary: ‘Come armed with $100 bills’

Financial Times/Harriet Agnew/3-4-2023

“‘Holding the local currency in an economy experiencing rapid inflation is rather like trying to descend an ascending escalator, or as Agustín Arias, owner of one of the country’s oldest estancias, El Bordo de las Lanzas near Salta in the north, puts it: ‘the prices go up in the lift and the salaries go up the stairs’.”

USAGOLD note: How to survive financially in a country where the inflation rate is almost 100%……The benjy is king.

Argentina Inflation Rate
(%, annualized)

Chart courtesy of TradingEconomics.com