Argentina is facing a severe shortage of U.S. dollars and is taking extreme measures to replenish its foreign currency reserves. The country’s Central Bank has announced that residents and businesses can now hold accounts in China’s RMB yuan, a departure from using the U.S. dollar as the sole reserve currency. This decision comes as Argentina grapples with an ongoing economic crisis, including a shortage of dollars, high unemployment, soaring poverty rates, and inflation. The move to use the yuan is seen as an attempt to hold onto the remaining supply of U.S. dollars, but some believe it is part of a larger trend of de-dollarization in the region. While Argentine officials promote the yuan as a solution, many residents and analysts still prefer to hold onto their money in dollars. The “black market” for dollars is thriving in Buenos Aires, with multiple exchange rates available. The highest unofficial rate, known as the “blue dollar,” is nearly double the official government rate. While some business transactions in yuan have increased, most locals remain reluctant to switch from dollars to yuan. However, Argentina presents an opportunity for China to demonstrate the viability of its currency as an alternative reserve option for other countries.