The implementation is surprisingly fast, probably within a week.

The topic of discussion at the hostel where I'm staying now is the upcoming announcement by the Argentine president, which will be made tomorrow.

[Background]
Currently, Argentina has two exchange rates: the official rate and the "Blue rate," which is a black market exchange rate. Despite being a black market rate, it's called the "Blue rate" and even appears in newspapers. When you go to an exchange office, you can somehow exchange US dollars at the Blue rate. Using credit cards or cash advances on credit cards results in the official rate, so the typical way to travel in Argentina is to bring US dollars in cash and exchange them for Argentine pesos through the black market. Otherwise, purchases become incredibly expensive. It's only through the black market that you can get prices closer to normal.
The reason for this is that the Argentine peso is experiencing inflation, so people are trying to accumulate US dollars, but since US dollars are regulated, they have a premium attached. However, the black market rate has become so close to a normal sense of value that it feels like the black market rate is becoming the standard rate. However, banks are still using the official rate. It's a confusing situation.

[Main Point]
The president is scheduled to make an announcement tomorrow, and based on speculation among people, it is expected that the regulations on US dollars will be lifted. It seems that the implementation will be relatively quick, possibly within a week after the announcement. It is expected that the exchange rates will be unified, and it is likely that the black market rate (Blue Rate) will become the official rate.
Until now, some people have been making a lot of money due to the difference in exchange rates, while ordinary people have been struggling with inflation. It is rumored that this situation may be somewhat improved.

[Impact on Travelers]
Travelers, as mentioned above, have had to resort to black market exchanges and carry cash. However, if the exchange rates are unified, this will no longer be necessary, and it will be possible to use credit cards to withdraw local currency as needed, just like in other countries. This will be a welcome situation for travelers.

[Impact on People]
It is expected that ordinary people will have easier access to US dollars, making it easier to save money and stabilize their household finances.
It is hoped that the economy will stabilize, which will lead to a reduction in inflation.

[Impact on the Economy]
People who have invested in FX or Argentine stocks may experience significant changes in the coming weeks.
....
....Well, let's see what happens tomorrow. I'm lucky to be here during this interesting time. Tomorrow, I'm participating in a volcano tour.

When I told a friend, they said, "Isn't it a collapse of the peso?"
I wonder if that's true?
It might happen if the residents of Argentina all start selling pesos at the same time. I don't really understand that kind of thing...
Since I've already obtained a certain amount of pesos, a collapse would be tough.
By the way, today is the inauguration ceremony of the new president.
I guess that speech will be the key.
I hope that if the new president has some popularity, the peso will hold up.

[12/25 Update]
At this point (12/9), the exchange rate of US dollar to Argentine peso was around 9.6, and the blue rate was around 14. However, within 1 to 2 weeks after the implementation, the official exchange rate moved closer to the blue rate, changing rapidly to 11, 12, and 13. Currently (12/25), the official exchange rate is around 13, and the blue rate is around 14, so for Japanese people, considering the impact of the double exchange through the dollar, it can be said that it is at a level where you can withdraw cash using the official exchange rate without any problems. However, since the exchange rate has changed so rapidly, it might be better to inquire with the credit card company to confirm which exchange rate they are using. I, for now, have some cash obtained through black market exchange, so I don't need to withdraw cash for a while.