Argentina's dollar rates, explained
If you've ever wondered why Argentina has so many «dollars», this guide explains it in plain language: what each one is, where its price comes from and which one applies to you.
Why are there so many dollar rates?
During several periods since 2011, Argentina restricted the purchase of US dollars, popularly known as the «cepo cambiario» (currency clamp). When people can't freely access the official dollar, other ways to get dollars appear, and each one ends up with its own price.
The rules have changed many times over the years, but several rates still coexist today. The difference between the official dollar and the others is known as the «brecha cambiaria» (exchange gap).
Official dollar
The price at which banks and authorized exchange houses buy and sell dollars to the public. The most common reference is Banco Nación's rate. There's also the «wholesale dollar», the price banks and large companies trade at among themselves, usually a little below the retail official rate. See today's official dollar.
Blue dollar
The informal-market dollar: dollars bought and sold outside the authorized system, in «cuevas» or by street changers. It isn't legal, but the media report it daily and it works as a thermometer of the economy. Its price comes from supply and demand on that parallel market. See today's blue dollar.
MEP dollar (dólar bolsa)
The rate that results from buying a bond in pesos and selling it in dollars on the capital market. It's legal and the dollars are deposited in an account in your name, via many home-banking apps or a brokerage. It matters to tourists too: purchases with foreign cards are usually settled at a rate close to the MEP dollar. See today's MEP dollar.
CCL (contado con liquidación)
Similar to MEP, but the dollars are received in an account abroad. It's mostly used by companies and investors who need to move funds out of the country. Its price is usually close to the MEP rate.
Card dollar
What Argentines pay when spending in foreign currency with an Argentine card: the official rate plus taxes and withholdings. It applies to trips, foreign purchases and digital services. It doesn't apply to foreign tourists paying with cards issued in their own country. See today's card dollar.
Crypto dollar
The peso price of stablecoins, cryptocurrencies such as USDT or USDC designed to always be worth one dollar. They trade on crypto platforms 24/7, which is why this rate is used as the reference on weekends and holidays. See today's crypto dollar.
What is the «brecha»?
It's the percentage difference between the official dollar and another rate, usually the blue or MEP. A large gap means the official dollar is hard to access or demand for dollars is high; a small gap means the different markets are more aligned. The rates table on CambioHoy shows each rate's gap against the official one.
Which dollar applies to me?
- Tourist bringing cash: whatever an authorized exchange house offers, which usually tracks the blue rate.
- Tourist paying with a foreign card: a rate close to the MEP dollar.
- Argentine buying abroad with a local card: the card dollar.
- Argentine saving in dollars: the official rate at a bank, MEP or crypto, depending on their situation and current regulations.
How CambioHoy calculates
We use the buy price when you sell currency to get pesos and the sell price when you buy currency with pesos. Other currencies, such as the real, euro or guaraní, are converted as a cross rate through the US dollar, using the rate you choose. More details in About CambioHoy.