The exchange rate lag is not a myth: it is an anchor with a changing export context

Argentina's Central Bank (BCRA) reported that the Multilateral Real Exchange Rate Index for September 2026 sat 24% below its historical average. This data indicates that the Argentine peso is currently appreciated in real terms, placing the currency in a position comparable to previous periods of economic strain, though not reaching the levels observed during the 2001 crisis.

Separately, the Veladero mining project in San Juan marked 21 years of operations. The mine remains a significant contributor to the regional economy, noted for its export capacity and the development of secondary economic activities within the province.