To be bound by law to mineral gold it is like store of valuea very competitive option against the dollar since it would allow the Argentines save without risking losing the value of your efforts In front of one weight crisis.
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Competitive option against the dollar?
In the last 30 yearshe profitability calculation indicates that the Argentine Gold is far superior against foreign currency. As of January 1, 1993the value of the national currency was $77.79 while that of the dollar was $1.
Ten years later, in 2003, the Argentine Gold price was $269.54 while the foreign currency was $3.34. In 2013, the evolution followed the same trend: $1,909.37 for the currency tied to mineral gold compared to $4.94 for the dollar. Finally, the price published on first day of this year2023, indicates that the Argentine Gold it costs $74,910.21 compared to $178.10 in the official dollar.
In the case of becoming relevant the option to save in Argentine Gold, the idea would not be to mint or print said currency, but that the BCRA issue a certificate of possession guaranteed with a gold reserve and is expressed in new savings accounts that can be opened in all entities of the financial system. In this way, when it is decided to abandon said investment, its equivalent in pesos guaranteed by the BCRA would be returned.
Source: Ambito

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