The Central Bank today adopted the new methodology for calculating the exchange reference rate (TCR).,governed by contact “A” 3500, Which will go into effect on January 1 It will determine its value.
The entity explained in a statement that this price will be calculated starting from the first business day of next year “through a methodology based on specific volume-weighted operations.”
The entity led by Santiago Boselli had contacted a month ago Public consultation To improve the definition of this variable, it is defined in each business conference half an hour before its conclusion, but based on requests for quotations.
“This major change promotes a more equitable and transparent financial environment, through… It replaced the previous scheme based on price surveys, Justify BCRA.
That was before we remembered that the development of this new methodology “was carried out taking into account the opinions of different market sectors collected in the public consultation launched on 5 November 2025”.
RER It will be calculated starting next year taking into account “the weighted average of operations organized by financial entities in A3 Mercados” (Previously, the BCRA required entities to display prices at three times a day and calculate them at those prices.)
but Only taking into account “transactions that have been agreed for a minimum amount of US$500,000 and have been ‘arranged on screen’”. In other words, operations carried out “based on a quote request or routed through intermediaries” will be excluded from now on.
“In favor of a weighted average of trading volumes is better than scanning trading prices at certain moments of the wheel.economist Gabriel Caamaño, director of the consulting firm Outlier, was sentenced.
“This new way to calculate it Contributes to transparency And acting He pointed out that the performance of the index enhances the solidity of the data used by financial entities and local and international futures markets.
The change in the calculation formula for this key variable has been determined and announced to all market players before Communication A 8359 It was approved today by the BCRA Board of Directors.
Reference dollar value “A” is 3500 It is published daily at the end of each day and is used by financial entities to prepare and display accounting information, as well as by markets for dollar futures contracts or the payment account for bond issues and negotiable obligations indexed according to the development of the official exchange rate (pegged dollar).
That is, it is a key variable for determining other prices for instruments actively traded in the local market.