The pillar, in detail
FX regime / exit from currency controls
$1,514.57
wholesale FX A3500 as of Oct 16, 2026 · gap ~0 verif Oct 16, 2026 ↗
Pillar statusON TRACKTrend▬ stable
The latest figure meets the promise we measure on this pillar.
What was promised
Exit from the currency controls toward free availability of foreign exchange and a unified exchange rate (the thesis's literal promise).
Where it stands today
Wholesale FX A3500 $1,514.57 as of Oct 16, 2026 (official BCRA series), floating between bands since Apr-2025, with no relevant split: the gap with the financial rates operates around zero (market data). verif Oct 16, 2026 ↗
The historical series
3501,515
Nov-23 → Oct-26 · $/USD ↗See the 37 points of the series · between 350 and 1,518
| Period | Value $/USD |
|---|---|
| Oct-26 | 1514.6 |
| Sep-26 | 1517.5 |
| Aug-26 | 1509.5 |
| Jul-26 | 1488.5 |
| Jun-26 | 1483.0 |
| May-26 | 1410.3 |
| Apr-26 | 1381.1 |
| Mar-26 | 1382.8 |
| Feb-26 | 1409.0 |
| Jan-26 | 1447.7 |
| Dec-25 | 1459.4 |
| Nov-25 | 1450.8 |
| Oct-25 | 1,443 |
| Sep-25 | 1366.6 |
| Aug-25 | 1323.8 |
| Jul-25 | 1351.8 |
| Jun-25 | 1194.1 |
| May-25 | 1195.3 |
| Apr-25 | 1,172 |
| Mar-25 | 1073.9 |
| Feb-25 | 1064.4 |
| Jan-25 | 1053.5 |
| Dec-24 | 1032.5 |
| Nov-24 | 1011.8 |
| Oct-24 | 990.8 |
| Sep-24 | 970.9 |
| Aug-24 | 952.8 |
| Jul-24 | 932.8 |
| Jun-24 | 911.8 |
| May-24 | 895.2 |
| Apr-24 | 876.8 |
| Mar-24 | 857.4 |
| Feb-24 | 842.2 |
| Jan-24 | 826.2 |
| Dec-23 | 808.5 |
| Nov-23 | 360.5 |
| Nov-23 | 350.0 |
How it is computed: the series is daily; here it is plotted one point per month, the last of each
Our reading
Trend▬ stable (editorial reading, anchored to the data)
Rule we apply the RIGI promise is kept
What it enables if sustained thesis
Gap ~0 sustained → the incentive to under-invoice exports and over-invoice imports dies → trade dollars go through the official market and feed reserves (Reserves pillar). R2
Without currency controls, RIGI pays out in full: profit remittance abroad without permits → the Argentina discount in project valuation disappears. R2
A unified, floating exchange rate → relative prices tell the truth → investment is allocated by real profitability, not by regulatory arbitrage. R2+R4
What we watchReappearance of the gap (>10% sustained) — the observable symptom of real FX pressure — breaks R2 and the carry of the RIGI projects. Watch the bands, net reserves and the REM.
Policies and rules related to this pillar11
We do not attribute this indicator to a single rule. Here we gather the policies and rules we track because they can affect the conditions related to this pillar, each with its status and its source.
Currency controls: exit for individuals and floating bandsDecreto 269/2025 + BCRA Com. "A" 8226in force
Debt with the parent company: payable without prior Central Bank approvalBCRA Com. "A" 8417 (Apr 9, 2026)in force
Bands tied to inflation + the BCRA buys reserves againBCRA Monetary Policy Statement (Dec 15, 2025)in force
Export blend dollar: created and then eliminatedDecreto 28/2023 → repealed by Decreto 269/2025in force
BOPREAL: a bond to channel importers' debt outside the FX marketBCRA Communication "A" 7918 (12/13/2023) + Decreto 72/2023in force
BOPREAL Series 4: a dollar bond to remit withheld dividendsBCRA Com. "A" 8233 and 8234 (Apr 30, 2025)in execution
Import payments: from the phased 30/60/90/120 to 30 daysBCRA Com. 'A' 7917 (Dec 13, 2023) → BCRA Com. 'A' 8118 (Oct 17, 2024)in force
December 2023 devaluation: dollar to $800 + 2% crawlFX policy decision by the BCRA/Economy (announced Dec 12, 2023, in force Dec 13, 2023)in force
Private property: expropriation costs more and eviction speeds up (half-sanctioned)Bill PE-13/2026 (Mensaje 22/26) — first-round approval in the Senate; now in the Chamber of Deputies (file 0032-S-2026)pending
Markets linked to this pillar27
These markets belong to sectors whose activity also shows up in relation to this pillar. We show them to connect the aggregate indicator with concrete markets for goods and services that we track in the large projects. Their presence here does not mean this indicator is the cause of that demand.
High-altitude logistics, hazardous goods and outbound freight across Catamarca's three corridorsCatamarca
Which part of this can reach your company?
The pillar shows the economic context. For a company we run a different cross-check: which projects buy what you make, who buys, when that purchase appears and what you would need to prepare to get in.
Where my company can get inHow often it is updated
Frequency
daily
Lag
~1 days after the period closes
Latest period published
2026-10-16
Who publishes it
BCRA wholesale A3500 exchange rate via API: written by the automatic daily refresh.
Built on the official source of each figure, with the gaps declared. Back to the program pillars
Analysis and curation: Ignacio Aredez
Head of Despegue
Method and track record →- 20+ years in technology, 15 of them in data and AI, for clients across Europe and the Americas
- Certified in AI governance (ISO/IEC 42001)
- Machine Learning (Google Cloud)
- Registered expert with the European Commission
How to read the seals →
verif primary source · prob primary source pending · unconf a source said it · estim our own calculation · thesis our reading · the date belongs to the datum, at the precision its source allows