Mini Cooper sales rose 54 percent in January to April from a year earlier. A Mini Coupe costs 194,000 pesos, or $37,072 at the official rate of 5.2380 per dollar. It costs $19,400 at the parallel rate at 10 pesos per dollar, cutting the price in half for Argentines who have savings in dollars and go to the black market to sell them for pesos. The same model in the U.S. costs $22,150.
Hilarious. Someone is effectively subsidizing the purchasing of cars in Argentina. Sounds like it's the government, in a vain attempt to keep the official exchange rate lower than what the market wants.
