Why are there so many different dollar rates?

Argentina has maintained strict foreign exchange controls for years. This created multiple exchange rates: an official rate regulated by the Central Bank (BCRA) and various parallel rates that reflect actual supply and demand.

• Official Dollar: Regulated by Argentina's Central Bank. Since April 14, 2025, individuals can purchase unlimited dollars at banks, though purchases exceeding USD 100,000 require 48-hour prior notification.
• Blue Dollar: The informal or parallel market rate. Historically the gap between blue and official rates exceeded 100%, but current stability has narrowed this to less than 1%.
• Card Rate: Official rate plus a 30% tax surcharge applied to all foreign transactions with credit/debit cards. This tax functions as an advance payment on income tax.

For investors and those sending money abroad:

• MEP Dollar (Mercado Electrónico de Pagos): Obtained by buying bonds or stocks in Argentine pesos and selling them for dollars deposited locally. Operates through banking apps and is fully legal for those with local bank accounts.
• CCL (Contado con Liquidación): Similar to MEP but allows transferring funds abroad. Investors buy Argentine securities locally and sell them internationally to move dollars overseas.
• Crypto Dollar: Accessed through stablecoins like DAI, USDT, or USDC, which are pegged 1:1 to the US dollar. Operates outside traditional financial systems without regulation.