President Javier Milei’s administration has shifted from campaign pledges of full official dollarization—replacing the peso with the U.S. dollar as legal tender—to a managed crawling peg and exchange-rate band system anchored between roughly 1,000 and 1,400 pesos per dollar. This pragmatic approach, combined with fiscal austerity, deregulation, and reported declines in inflation, has reduced the immediate need for currency substitution. Milei has publicly noted limited popular support for outright dollarization, while recent legislative gains have sustained reforms without triggering the monetary overhaul. Trader consensus assigns low probabilities to near-term resolution by late 2026, reflecting the absence of legislative or central-bank action and the government’s preference for gradual stabilization over abrupt monetary regime change. Scheduled fiscal and IMF-related reviews could still influence momentum.