President Javier Milei’s administration has shifted from campaign pledges of official dollarization to a managed peso regime featuring crawling exchange-rate bands, IMF-backed stabilization, and U.S. currency swaps initiated in late 2025. These measures aim to rebuild reserves and curb inflation without replacing the peso, while recent public statements from Milei highlight insufficient domestic demand for full conversion. With only weeks remaining before the June 30, 2026, deadline, legislative requirements, reserve shortfalls, and institutional preparation render immediate adoption unrealistic. Traders assign 98.5 percent probability to “No” based on this consistent policy trajectory, though an abrupt fiscal crisis or surprise bilateral agreement could still force reconsideration within the narrow window.