What is the MEP Dollar and how does it work in Argentina?

Summary: Discover what the MEP dollar is, how its price is determined, and why it is the preferred legal option with no monthly limit for dollarizing savings in Argentina.

The MEP dollar (Mercado Electrónico de Pagos), also known as the “Dólar Bolsa,” is one of the exchange rates most closely followed by Argentines. It is a 100% legal way to buy dollars through the capital markets, without the restrictions imposed by the official market and without having to operate through the informal market (“dólar blue”).

Below, we explain what it is, how it works, and why it has become a key reference for those looking to protect their savings.

What does “MEP” mean?

MEP stands for Mercado Electrónico de Pagos, the securities market system through which the transactions that give rise to this exchange rate are settled. This is why it is also known as the “Dólar Bolsa”: the price results from the purchase and sale of bonds or stocks that are traded in pesos in Argentina and in dollars abroad.

How is the MEP dollar price determined?

In simple terms, the mechanism works as follows:

1. A person buys, in pesos, a bond or stock that can be bought and sold both in Argentina (in pesos) and abroad (in dollars).
2. That same asset is transferred to an account abroad and sold in the foreign market. Since the bond is sold in dollars in that account, the proceeds from the sale are received in dollars.
3. To determine the exchange rate resulting from the transaction, the peso price paid is divided by the amount of dollars received. The result is the MEP dollar exchange rate.

This mechanism is known as “domestic contado con liqui” and is fully supervised by the National Securities Commission (CNV) and authorized entities.

Why do people choose the MEP dollar?

• It is legal and transparent: transactions take place within the regulated financial system, with receipts and traceability.
• It is typically quoted higher than the official rate, which better reflects the market value of the currency.
• It can be traded from your phone, through brokers, banks, or investment platforms.

MEP Dollar vs. Other eExchange rates

Argentina has several exchange rates at the same time, and it is common to confuse them:

• Official dollar: the exchange rate set by the Central Bank, with regulated access.
• Blue dollar: an informal exchange rate, without official backing or a legal framework.
• MEP dollar: legal, traded through the securities market, with no monthly purchase limit.
• Contado con liqui (CCL): similar to MEP, but allows dollars to be transferred abroad.
• Card dollar: the official exchange rate plus taxes (withholdings), applied to purchases abroad with a card.
• Digital dollar (USDC/USDT): the buying/selling price of stablecoins on exchanges, which usually moves in line with the MEP or CCL.

If you want to explore the differences between these exchange rates in more detail, you can read our article MEP vs. Blue vs. CCL Dollar: What Are the Differences?

Who can buy MEP dollars?

Any individual or legal entity with a CUIL/CUIT, residing in Argentina and over 18 years old, can buy MEP dollars as long as they have an active investment account with a broker, bank, or platform authorized by the CNV.

A simpler way to manage MEP Dollars

Nexo, a global digital assets wealth management platform, introduced MEP USD (USDMx), designed specifically for Argentine users. With MEP USD, verified users can deposit and withdraw dollars directly from their local bank accounts (through Banco Industrial), with the funds credited instantly and 1:1 as a dollar balance in their account, with no deposit fee.

This means that, once the dollars are in your Nexo account, you can use them within the platform’s ecosystem: convert them into stablecoins, access savings products (Earn) with daily interest, or simply keep them available as a dollar reserve.

In summary

The MEP dollar is currently one of the most popular ways for Argentines to dollarize their savings legally, without the restrictions of the official dollar or the risks of the informal market. Understanding how its price is determined and how to trade it is the first step toward making better financial decisions.

If you want to learn step by step how to buy MEP dollars and how to make the most of them within a platform like Nexo, we invite you to read our guide How to buy MEP Dollars step by step: A simple guide.

Looking for a simple way to manage your MEP dollars? Find out how MEP USD (USDMx) works on Nexo.