Argentina FX spread today
FX spread between the official Argentine dollar and the free-market rates (blue, MEP, CCL). Current level, cross-comparison and historical context.
| Type | Buy | Sell | Spread vs official | Updated |
|---|---|---|---|---|
| Official dollar | $ 1.370,00 | $ 1.420,00 | — | 24/4/26, 2:00 p. m. |
| Blue dollar | $ 1.400,00 | $ 1.420,00 | 0.00% | 26/4/26, 6:00 p. m. |
| MEP dollar | $ 1.437,00 | $ 1.441,40 | +1.51% | 26/4/26, 6:00 p. m. |
| CCL dollar | $ 1.494,60 | $ 1.495,80 | +5.34% | 26/4/26, 6:00 p. m. |
| Card dollar | $ 1.781,00 | $ 1.846,00 | +30.00% | 24/4/26, 2:00 p. m. |
| Crypto | $ 1.482,00 | $ 1.482,10 | +4.37% | 26/4/26, 6:00 p. m. |
What is the FX spread and why does it matter?
The FX spread (brecha cambiaria) is the percentage difference between the official dollar and any of the free-market rates (blue, MEP, CCL). It is computed as spread = (parallel / official − 1) × 100.
It is one of the most-watched Argentine market indicators because it synthesizes devaluation expectations, confidence in FX policy and market stress into a single number. Low levels (<20%) suggest equilibrium; 30-50% tension; >100% currency crisis.
A wide spread creates economic distortions: exporters under-invoice, importers over-invoice, imports pile up on the official channel and capital flight runs through the parallel. Governments therefore historically aim to close it via devaluation, restrictions, or FX unification.
Common questions
What is the FX spread today?
We show the three main spreads — blue, MEP and CCL vs official — refreshed every 5 minutes, with their historical evolution in the chart above.
What spread level is `high`?
Historically in Argentina: <20% low, 20-40% normal with FX controls, 40-80% tense, 80-120% critical, >120% crisis. The levels that triggered major devaluations (2015, 2023) were around 100-200%.
Which spread should I watch — blue, MEP or CCL?
Retail consumption/savings: blue and MEP. Capital flows and macro arbitrage: CCL. All three usually move together; large divergences (e.g. CCL well above MEP) signal acute stress on offshore capital outflows.
What is the macro impact of a high spread?
Discourages exports at the official rate, encourages arbitrage-driven imports, drains BCRA reserves, self-reinforces devaluation expectations and undermines the FX anchor. It also affects expected inflation.
How is a high spread closed?
Three historical paths: (1) devaluing the official rate, (2) restrictions that increase the cost of the parallel rate, (3) USD inflows (harvest, IMF, exports) that appreciate the free rate. FX unification combines all three.
Analyze the fx spread with AI
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