Demand for dollars accelerated: Argentinians bought the highest amount since the 2025 elections

In July 2026, the demand for foreign currency in Argentina reached its highest level since the legislative elections of the previous year, with citizens purchasing over USD 3.3 billion. This surge in private demand occurred despite relative stability in the exchange rate, marking the highest monthly volume recorded so far in 2026.

Concurrently, the Central Bank of the Argentine Republic (BCRA) has continued to strengthen its reserves, recording 22 consecutive days of net dollar purchases. As of the most recent data, the monetary authority has accumulated more than USD 14 billion in net purchases throughout 2026, supported by the ongoing implementation of the fourth phase of its current monetary program.