President Javier Milei’s administration has prioritized fiscal surpluses, inflation reduction to around 3 percent monthly, and a managed peso float within an expanding exchange-rate band since lifting most capital controls in 2025. These steps, supported by IMF facilities and U.S. currency swaps, have rebuilt reserves and stabilized the currency without replacing the peso. Congress is considering central-bank charter reforms that would prohibit monetary financing of deficits, reinforcing the current path of currency competition and endogenous dollarization over formal adoption of the U.S. dollar as legal tender. Persistent private dollar holdings, export gains from energy and lithium, and upcoming legislative sessions plus 2027 elections shape trader assessments of whether official dollarization occurs by the market’s resolution date.