Argentina's USDT premium rises to 6.6%, marking five consecutive days of gains.
56 minutes ago
Argentine dollar stablecoins (including USDT) have posted five consecutive days of price increases. Data from Coinpay shows that as of October 16, the median USDT buy price on Binance’s P2P market climbed to 1,612.6 Argentine pesos, while Argentina’s central bank’s official wholesale exchange rate stands at 1,512.81 pesos, translating to a 6.6% premium — the highest level since August 15. On OKX’s P2P market, USDT traded at an average of around 1,614.15 pesos, with a roughly 6.7% premium. The surge came within a week of Argentine President Javier Milei warning of exchange rate run risks, with Milei noting his administration has set aside $125 billion to prepare for potential financial stress in 2027. A regulatory rule barring investors from selling dollar-denominated MEP securities or purchasing foreign currency-settled securities within 90 days of buying official dollars has driven some users to opt for USDT, attracted by its flexible trading, 24/7 liquidity and convenient cross-border transfers — though this comes with higher premiums. Regionally, as of October 12, Argentina’s digital dollar premium hit 5.9%, ranking second in Latin America, only behind Venezuela’s 15.3%.
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