Exchange rate band regime
The exchange band system in Argentina was launched on April 11, 2025 and established a range of $/USD 1,000 to 1,400, in which the exchange rate fluctuates freely according to supply and demand. The BCRA adjusts these limits at a monthly rate of -1% and +1%, respectively.
– Band floor ($1,000 – 1% monthly): When the exchange rate reaches the lower value, the BCRA sells pesos to maintain that level and increase international reserves, without sterilizing the issuance of pesos, favoring remonetization.
– Band ceiling ($1,400 + 1% monthly): When the higher value is reached, the BCRA buys pesos to maintain that level and absorb surplus liquidity, reducing monetary liabilities.
– Inside the band: The BCRA may occasionally intervene to avoid excessive volatility based on macroeconomic objectives, always without sterilization.
This scheme allows for an orderly transition to floating, ensuring flexibility for remonetization and liquidity control in the face of unforeseen changes.
December 2025
The table shows the values of the intervention band for each working day of the month.
| Date | Lower | bandTop band |
|---|---|---|
| 2025-12-01 | 925.53 | 1,511.48 |
| 2025-12-02 | 925.22 | 1,511.98 |
| 2025-12-03 | 924.91 | 1,512.48 |
| 2025-12-04 | 924.60 | 1,512.99 |
| 2025-12-05 | 924.29 | 1,513.49 |
| 2025-12-09 | 923.05 | 1,515.50 |
| 2025-12-10 | 922.74 | 1,516.00 |
| 2025-12-11 | 922.44 | 1,516.50 |
| 2025-12-12 | 922.13 | 1,517.01 |
| 2025-12-15 | 921.20 | 1,518.52 |
| 2025-12-16 | 920.89 | 1,519.02 |
| 2025-12-17 | 920.58 | 1,519.52 |
| 2025-12-18 | 920.27 | 1,520.03 |
| 2025-12-19 | 919.97 | 1,520.53 |
| 2025-12-22 | 919.04 | 1,522.05 |
| 2025-12-23 | 918.73 | 1,522.55 |
| 2025-12-24 | 918.43 | 1,523.06 |
| 2025-12-26 | 917.81 | 1,524.07 |
| 2025-12-29 | 916.89 | 1,525.58 |
| 2025-12-30 | 916.58 | 1,526.09 |
| 2025-12-31 | 916.28 | 1,526.60 |