Argentina’s infamous “blue chip” or black market dollar exchange rate – known locally as “dólar blue” – has served as a fear gauge over the past few decades. At least since the latest batch of currency controls were put in place, first by Cristina Fernández de Kirchner, temporarily suspended and later redeployed by Mauricio Macri, and later extended by both Alberto Fernández and Javier Milei. The blue peso-dollar exchange rate has gone through multiple mutations, at some points being considered illegal by governments that sought to mask the inefficiencies of their economic policies — namely the Fernández-Fernández administration during Sergio Massa’s heyday at the Economy Ministry, along with Cristina Fernández de Kirchner’s previous government. But it has always retained certain forecasting capabilities, particularly when Argentina gets…
