Argentina is changing its exchange-rate system. The previous system led to an overvalued currency and contributed to a financial panic after a Peronist win in Buenos Aires Province in September. It also led to tension with the IMF, which wanted Argentina to boost forex reserves.
The BRCA promised to widen the peso’s trading bands to match inflation, accumulate forex reserves (“aligning” with 5% of market volume), publish quarterly reports on monetary policy, and improve the bank reserve requirement system.
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Argentina is changing its exchange-rate system. The previous system led to an overvalued currency and contributed to a financial panic after a Peronist win in Buenos Aires Province in September. It also led to tension with the IMF, which wanted Argentina to boost forex reserves.
The BRCA promised to widen the peso’s trading bands to match inflation, accumulate forex reserves (“aligning” with 5% of market volume), publish quarterly reports on monetary policy, and improve the bank reserve requirement system.
According to [Bloomberg (paywalled)](https://www.bloomberg.com/news/articles/2025-12-15/argentina-central-bank-to-change-currency-band-system-in-2026), govenment bonds due in 2035 have increased in value by around 1%, and the peso has slightly weakened. The government will still need a waiver from the IMF for failing to accumulate reserves.
Details can be found in the press release; the article at the top is just a stub.
[Press conference here (in Spanish, currently live right now)](https://www.youtube.com/watch?v=irFnjA6uMYE)
[The press release here (pdf in Spanish)](https://www.bcra.gob.ar/Pdfs/Noticias/fase-remonetizacion-2026.pdf)
[Google Translate has a document translate feature](https://translate.google.com/?sl=auto&tl=en&op=docs)
!ping LATAM&ECON