Extreme devaluation: The Argentine currency is already worth more for its metal than as a means of payment

Advertisements proliferate on the internet to buy pesos and then melt them down. The country ended April with year-on-year inflation of 59%.

RIO DE JANEIRO, BRAZIL - The uncontrolled inflation and the continuous currency devaluation that Argentina has suffered for decades has meant that the peso, that country's currency, is worth more for the metals it contains than for the purchase of goods and services. This phenomenon, which began a couple of years ago when the first ads appeared on the internet for people interested in buying coins to melt them down, has worsened after the start of the Russian invasion of Ukraine.

The military conflict has caused high volatility in the value of raw materials such as nickel, a metal present . . .

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