Argentine Peso Plummets as Libertarian Candidate Advocates Dollarization

Hard-right libertarian presidential candidate Javier Milei has proposed replacing the peso with the US dollar, causing the peso's value to rapidly decline.
Milei's criticism of the peso led to an unofficial 7% single-day drop, sparking concerns about inflation and banking issues.
If elected, Milei aims to fully dollarize Argentina's economy, but may face challenges accomplishing this.
Argentina is undergoing a severe financial crisis with annual inflation over 120% and frequent price fluctuations.
Milei's dollarization proposal has raised worries about the stability of Argentina's currency and economy.