Exchange Rate in Argentina
Argentina's exchange rate over the last decade was marked by significant depreciation against major currencies, particularly the U.S. dollar. Driven by economic instability, high inflation, and fiscal deficits, the peso's value eroded continuously. Government interventions, including currency controls and debt restructuring, provided temporary relief but could not stem the long-term decline. The peso saw a further sharp decline towards the end of 2023 after new President Javier Milei ordered an over-50% devaluation, but has since lost value at a controlled rate under the government’s crawling peg system; the parallel rate remains weaker than the official rate.Â
The exchange rate ended 2024 at ARS 1031, compared to the end-2023 value of ARS 808.5 and the figure a decade earlier of ARS 8.46. It averaged ARS 214.3 over the last decade. For more exchange rate information, visit our dedicated page.
Argentina Exchange Rate Chart
Note: This chart displays Exchange Rate (vs USD) for Argentina from 2017 to 2024.
Source: Macrobond.
Argentina Exchange Rate Data
| 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|
| Exchange Rate (ARS per USD, eop) | 84.1 | 102.7 | 177.1 | 808.5 | 1,031.0 |
| Exchange Rate (ARS per USD, aop) | 70.67 | 95.16 | 130.86 | 295.62 | 915.04 |
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Argentine exchange rate projections for the next ten years from a panel of 43 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable exchange rate forecast available for Argentine exchange rate.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Argentine exchange rate projections.
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