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AmericasSeptember 22 2022

Is dollarisation back in fashion?

As the Latin American region battles with inflation, the use of the greenback is set to increase. Does the dollar represent a concrete possibility or a legacy of the past? Barbara Pianese reports.
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Is dollarisation back in fashion?

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.

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Barbara Pianese is the Latin America editor at The Banker. She joined from Mergermarket, where she spent four years covering mergers and acquisitions across Europe with a focus on the consumer sector. She holds an MA in International and Diplomatic Affairs from the University of Bologna having studied in Brazil and France as well.
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