Latin American Currency Coverage
6 Latin American currencies spanning the region's largest economies. Each with context about what makes pricing in that market distinct—from Argentina's parallel rates to Brazil's commodity linkages.
Largest LatAm economy. Commodity-linked currency sensitive to iron ore, soybeans, and oil prices. Managed float with central bank interventions. IOF tax affects certain FX transactions.
- Most liquid LatAm currency
- Commodity-linked volatility
- Central bank intervention active
- IOF tax on certain transactions
Most traded emerging market currency globally. Deep liquidity from manufacturing trade with US. Carry trade favorite due to high interest rates. Sensitive to US economic data and nearshoring trends.
- Most traded EM currency
- Deep USD/MXN liquidity
- US trade corridor driven
- Carry trade dynamics
Multiple parallel exchange rates: official (BCRA), MEP (dolar bolsa), CCL (contado con liquidacion), and blue dollar (informal). Capital controls create significant spreads between rates. High inflation requires frequent updates.
- Multiple parallel rates
- Blue dollar tracking
- Capital controls active
- High inflation volatility
Oil-linked currency with significant USD remittance inflows from US diaspora. Central bank allows float with occasional intervention. Growing fintech sector driving digital FX demand.
- Oil price correlated
- Major remittance destination
- Managed float regime
- Growing fintech adoption
Copper-linked currency—Chile produces 25% of global copper. More stable macroeconomic environment than neighbors. Central bank maintains credibility with inflation targeting.
- Copper price sensitive
- Relatively stable macro
- Inflation targeting regime
- Mining sector FX flows
Highly dollarized economy—many contracts and savings in USD. Central bank actively manages volatility. Mining (copper, gold) drives export flows. Lower inflation than regional peers.
- High dollarization
- Active central bank
- Mining export driven
- Relatively stable inflation
Key Trade Partner Currencies
Latin American trade settles primarily in these currencies.
Primary settlement currency for all LatAm trade and remittances.
Secondary trade currency, especially for European imports.
Growing importance as China becomes top trade partner for Brazil, Chile.
Why Currency Context Matters
A currency code tells you nothing about market dynamics. The Argentine Peso has multiple parallel exchange rates that can diverge by over 100%. The Brazilian Real's IOF tax affects certain transaction types. The Mexican Peso's deep liquidity makes it behave differently than less-traded LatAm currencies.
Understanding these contexts isn't academic—it's practical. A remittance provider pricing USD/ARS at the official rate will lose money on every transaction. A DeFi protocol assuming BRL liquidity matches MXN will face unexpected slippage.
AFXO is built with this contextual understanding. We don't just aggregate rates—we understand what those rates represent in each market.
Need Technical Details?
Full technical specifications, API integration guides, and contract addresses are available on afxo.ai.