M3 Divided by International Reserves and Dollar Exchange Rate
The following report is obtained by dividing the daily value of M3 by the International Reserves, a value known as the M3 Shadow Dollar. This indicator is used as a reference to estimate the implicit exchange rate using the broadest measure of the money supply.
Warning about the following report
This value may be affected because M3 (variable #1234) has stale or missing data at the BCRA API. See the Sources page for details on where each report's data comes from.
M3 Divided by International Reserves and Dollar Exchange Rate
Values expressed in Pesos
Variations
M3 / International Reserves
Last
3639.5362
2026-05-07 : 3639.5362
Daily Variation
-0.0%
2026-05-06 : 3641.1012
Monthly Variation
+0.6%
2026-04-07 : 3617.2157
Annual Variation
+8.4%
2025-05-07 : 3358.0572
2-Year Variation
+36.9%
2024-05-07 : 2658.8369
3-Year Variation
+348.7%
2023-05-07 : 811.1179
5-Year Variation
+1566.9%
2021-05-07 : 218.3369
10-Year Variation
+7281.3%
2016-05-07 : 49.3078