Argentina's USDT premium rises to 6.6%, marking five consecutive days of increase.

BlockBeats news, October 17 - The price of US dollar stablecoins (USDT, etc.) in the Argentine market rose for the fifth consecutive day. Coinpay data shows that as of October 16, the median buy price of USDT on Binance's P2P market rose to 1,612.6 Argentine pesos, while the official wholesale exchange rate published by the Central Bank of Argentina was 1,512.81 pesos, representing a premium of 6.6%, the highest level since August 15. The average price of USDT on OKX's P2P market was approximately 1,614.15 pesos, with a premium of about 6.7%.

The rise occurred within a week in which Argentine President Javier Milei spoke about the risk of a run on the exchange rate. Milei stated that the government has prepared $125 billion in funds to cope with potential financial pressure in 2027.

Because investors are not allowed to sell US dollar-denominated MEP securities or purchase related foreign currency-settled securities within 90 days after buying official US dollars, some users choose USDT in exchange for more flexible trading methods, 24/7 liquidity, and the convenience of cross-border transfers, but they must bear a higher premium.

In terms of regional data, as of October 12, Argentina's digital dollar premium was 5.9%, ranking second in Latin America, second only to Venezuela's 15.3%.