There is only one price which everyone knows in Latin America, from government officials to marchantes in the local markets: the current dollar exchange rate.
Dollarisation, the use of foreign currency in addition to or instead of the domestic fiat currency, has been a feature in the region due to exchange rate volatility and high inflation. The topic is increasingly present in the public debate today, whether proposed by Javier Milei, libertarian presidential candidate in next year’s Argentine general election, or Primero Justicia, the centre-right Venezuelan opposition party.