The Central Financial institution of the Argentine Republic (BCRA) accredited a brand new methodology for calculating the Reference Change Fee (TCR) relevant to the greenback. This modifies Communication A 3500 that has been in power for greater than twenty years since 2002.
The brand new system replaces the earlier scheme based mostly on quote surveys with a technique that It’s based mostly on particular operations weighted by quantity. It is going to come into power on January 1, 2026.
Till now, the calculation relied on surveys carried out by the BCRA at thrice of the day. The brand new methodology solely considers operations organized on display screen and units a minimal quantity of 500,000 {dollars} (USD) for such transactions. Thus, definitions by quote request are thus excluded (over-the-counter) like these channeled by brokers.
“The change is predicated on the truth that it’s now measured by a weighted common of actual operations,” exactly within the giant transactions which might be made out there, defined economist Natalia Motyl to CriptoNoticias. “Earlier than, it was executed by means of surveys and will embody small and casual sector transactions that won’t replicate the actual worth of the RER,” he added.
On this sense, “it would certainly replicate better stability and transparency in contracts, operations and estimated calculations tied to the greenback, which permits for a way more favorable enterprise local weather,” Motyl stated.
The brand new greenback calculation seeks to be extra equitable
The target of the replace is to enhance transparency and representativeness, in addition to to contribute to market gamers working beneath circumstances of better equality. On this approach, it seeks to advertise a extra equitable monetary setting and restrict areas for manipulation.
The event of this new methodology was carried out contemplating the opinions of the completely different market sectors. These had been collected in a public session launched by the central financial institution a month in the past, on November 5, 2025.
With this measure, the BCRA signifies that it aligns with worldwide requirements adopted by different central banks, selling better modernization within the calculation of the RER.
International locations resembling Chile, Colombia, Peru, Guatemala and Uruguay have already adopted methodologies based mostly on weighted common costs. As an alternative, the central financial institution in contrast within the public session that Argentina, Brazil and Mexico continued to make use of quote order methods.
The choice provides to the measures of Argentine organizations that search to modernize laws in several spheres of the markets.
