RIO DE JANEIRO, BRAZIL - Replacing the national currency with the dollar as a payment or pricing instrument has been practiced by several Latin American countries, with different results depending on the economic and financial profile and the type of crisis that led to this measure. It is evident from the experience researched by EFE for a regional overview on the occasion of the anniversary of the exchange rate peg removal in Argentina.
There, it was known as "one for one." If you had a peso, you had a dollar. Hyperinflation caused fear and terror in the streets, and Domingo Cavallo . . .