Monday, October 2, 2023

A website calculates what your current salary would be if the economy dollarized

A website calculation How much would one’s salary be? workers in the event that the economy carries out the promised dollarization Javier Miley whether you will be elected president in the next elections.

The website is called and has a very simple interface that only asks you to enter the person’s income and automatically calculates the equivalent in dollars.

At this point it must be made clear: the conversion value is not that of the blue dollar or the official dollar, but a calculation by the FundAr foundation in March of this year, which estimated the value at 7,070 pesos per dollar.

To arrive at this figure, the Foundation performed the following calculation: divide the amount of net reserves of the Central Bank of the Argentine Republic (BCRA) – which amounted to 2,300 million pesos in March of this year – and divide it by the sum of the monetary base ( money supply in circulation) plus the interest-bearing liabilities of BCRA, which amounted to 11,017,136 million pesos.

In this way, the calculation is 7,070 pesos per dollar, a value ten times higher than the current value of the blue dollar. That means, according to this calculation, a current salary of 200,000 pesos would be just $28.29.

On the other hand, it is noted that the price would not currently be 7,000 pesos per dollar, but would be much higher, since the BCRA’s net reserves have decreased significantly (they are in negative territory) and the Leliqs have increased.

It is above all a hypothetical game, because even the leaders of La Libertad Avanza have put the handbrake on the possibility of immediate dollarization. Specifically, because the central bank in particular does not have the necessary dollar reserves to carry out this operation.

Nation World News Desk
Nation World News Desk
Nation World News is the fastest emerging news website covering all the latest news, world’s top stories, science news entertainment sports cricket’s latest discoveries, new technology gadgets, politics news, and more.
Latest news
Related news