the silence of dollar price Investments have also been restructured in recent days due to lower interest rates in recent days following election results favorable to the government. in fact, The peso is once again becoming more attractive. This is because domestic currency-denominated income continues to exceed that of the US dollar during November. For this reason, our analysts consulted: i professional They show you what you’re saving today.
it’s him Dollar price is stable at $1,435 It is sold to the general public at Nation Bank. The cumulative value for the whole month was down about 2.7%. This made earning in pesos more attractive.
in particular, Nominal annual percentage rate (TNA) Traditional fixed payments are now available at major banks, reaching up to 29% on retail deposits. Up to 30 days, which is the minimum period required by the financial system. Although it was about 13 points lower than the amount offered in mid-October last year, it outpaced the dollar’s appreciation.
Therefore, if Traditional fixed-term employment 1 month, You will earn approximately 2.38% during that period.
Thus, today, peso deposits far outpace dollar price movements, despite the rate decline. This is slightly higher than the inflation rate of about 2% per month.
Specifically, official data published by INDEC last Wednesday shows that: The consumer price index (CPI) in October was 2.3%.
And according to the last Market Expectations Research (REM); The central bank announced this a few days ago based on a survey of around 40 economists. Analyst consensus forecast for November is 1.9%; Therefore, in a traditional fixed period, you will continue to receive positive income this month.
Dollar in the spotlight and interest rate decline
Added to this are other positive factors. like the percentage of guarantor Already in one day it reaches about 23% of TNA, and after 30 days it reaches 30% per year. It is worth remembering that a month ago the nominal interest rate reached 80% of the annual nominal interest rate.
Not only are interest rates falling; Country risk tooDebt and Argentine securities issuance are important variables; The figure was close to 600 basis points, the lowest level in nine months.
“The dollar is calm as the positive impact of the election on markets continues. Bonds and stocks are recovering and we don’t see a crash into the dollar. However, it has been observed that The dollar is still calm, but close to the ceiling. “This shows that we need to reconsider the issue of exchange rate bands and strive to move towards a free exchange rate system,” he warns. Jorge ColinaIdesa Economist, i professional.
For now, the wholesale dollar is located at $1,412, max float band It is set by the central bank and renews at 1% every month. Current price is $1,502the most acceptable mention that the government should not intervene in the sale of currency.
”Improving inflation expectations, expanding economic activity, and maintaining budget surpluses are supporting an increase in demand for money as interest rates and the dollar fall. “It is important to adhere to the structural reforms that have been promised.”addition Dario Rossignoloeconomist and professor of macroeconomics and public finance at the UBA Faculty of Economics, i professional.
As a general rule, the market Matba-Rofex options and futures Estimate of Wholesale dollars were $1,424.5 by the end of November and $1,461 by year-end.
In summary, Not expected to exceed float band during 2025.
Actually, it’s a matter of season. Demand for pesos for payments increases at the end of the year The fact is that the demand for foreign currency decreases due to family and work commitments such as vacations, bonuses, parties, etc. Therefore, the exchange rate will be stable. At least until mid-December.
In addition to this, Demand for pesos to make investments as pesos currently provide higher income compared to what the dollar offers.
For example, in the last bid, In early November, the government was able to renew all of its offerings and refinance maturities for about $7 billion..
Among the instruments he provided were Lecap, Boncap, BonCer, Letamar, Bono TAMARthe maturity period is extended From February 2026 to April 2027including two new issues: M31G6 (August 31, 2026) and M31Y7 (March 31, 2027). It also offered dollar-denominated bonds (D30A6) linked to April 30, 2026.
Carry trade is back as investors bet on the peso
For now, the market today is Investors are investing some of their pesos to take advantage of high interest rates Conversion in your home currency for dollar advances.
In other words, It’s called the “carry trade” This includes unwinding your position in US banknotes and converting the rate to pesos to take advantage of higher income. Then they “switch” back to the dollar, creating more foreign currency due to exchange rate tranquility.
“What we are seeing is a realignment after strong pre-election dollarization. If we can get past this event, the hope is that ultimately the band plan will be sustained in the short term,” he said. Lower rates and expectations of currency devaluation in the peso will redefine the game. So now, we are starting to see carry trades at a time when the demand for money is high towards the end of the year. “Right now, there’s no reason to think about any change in what we’re seeing.” resume fernando bearChief economist at consulting firm Quantum.
In this same line, Nahuel BernuesCFA, financial advisor and founder of Cuestus Consulting, added: “Today, I think investors’ pesos are going elsewhere. The dollar is no longer sought after as a haven, and risk and return can now be sought elsewhere, with the peso curve continuing to provide very attractive dollar-equivalent returns next year. “If the currency band remains up to the dollar curve (with a profile that assumes Argentina’s currency risk), interest rate compression and price increases will continue.”
Also, ‘Renewed interest’ in investing in Argentine stocks “It carries the most obvious political risks.”
Similarly, Bernues shows that: The peso is “further volatile because interest is no longer paid as before.””.
from the opinion of Esteban CastroEconomist and CEO of Inv.est, said that with lower interest rates and a stable dollar, many Today’s pesos are “going into short-term bonds, dollar instruments, or CEDEAR. Investors are looking for liquidity and coverage as monetary policy continues to be accommodative and election uncertainty has passed,” he summarizes.
And he exemplifies: good opportunity There are still floating rate bonds such as Buenos Aires Provincial Bonds (PBY26) as of May 2026; Interest is paid quarterly. Before the election, it had an annualized return of 70%, and now it’s 45%. Therefore, considering the current interest rate level, it is a very attractive product. ”
on the side of Mauro Cognettaa financial analyst at Global Focus, also has recommendations: Overweight your portfolio in pesos Thus establishing the status of the national currency.
“Our expectation is that the exchange rate will remain stable and the peso rate will remain positive until at least December. We recommend giving more weight to the peso than to the dollar. It can be a letter or a short title of the CER that adjusts for inflation, ideally if the maturity is in January, February or March,” Cognetta concludes.
Another recommended alternative is Investment trust (FCI) To invest in these short-term financial products in Pesos.
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