Since Friday, April 11, the last business day before the removal of the currency control was implemented, private sector dollar deposits recorded an increase of 1.161 billion, according to official data released by the Central Bank of the Argentine Republic (BCRA).
That day marked the closure prior to the start of the liberalization of the foreign exchange market, a measure that the Government of Javier Milei began to apply on Monday, April 14.
Until that moment, in 2025, dollar deposits had accumulated a drop of 2.396 billion, linked to the conditions established in the first phase of the capital amnesty, which will conclude in the coming days. With the recovery that began on April 14, the use of bank credit in dollars also began to reactivate, mainly by exporting companies.
Un dólar estadounidense con la cara de Javier Milei.
The most recent data from the Central Bank, corresponding to April 25, indicated that private sector dollar deposits exceeded 30.2 billion, while public sector deposits in banks reached slightly more than USD 2.5 billion.
Various actors in the financial system interpreted this evolution as a possible turning point. The removal of caps for currency purchases, along with the unification of the exchange rate, caused an increase in individual foreign exchange activity.
Banking entities pointed out that the surge in dollar purchases in private banks was a direct consequence of the new provisions. Since these operations must be channeled through bank accounts, the impact was immediately reflected in the official BCRA statistics.
Javier Milei, presidente de Argentina.
Since the arrival of Javier Milei's Government, private sector dollar deposits had increased by USD 15.74 billion, driven by the capital amnesty regime promoted by the libertarian administration. This measure facilitated the entry into the financial system of a considerable portion of foreign currency previously outside the legal circuit.
In this context, the growth observed since mid-April is part of a broader process of return of savings to the formal system.
