If you’ve looked at the CLP to ARS rate lately, you might have done a double-take. Honestly, anyone who says they predicted the exact path of the Chilean Peso against the Argentine Peso over the last twelve months is probably exaggerating. We are sitting in January 2026, and the financial landscape between Santiago and Buenos Aires feels worlds apart from the chaos of 2024.
Right now, the rate is hovering around 1.61.
That means for every Chilean Peso (CLP) you hold, you're getting about 1.61 Argentine Pesos (ARS). It sounds simple, but the "why" behind that number is a messy mix of copper prices, Milei’s "chainsaw" austerity, and a radical shift in how Argentina manages its currency bands.
The Reality of the CLP to ARS Rate Today
Let's be real: Argentina's economy is currently a massive experiment. While Chile has been the "boring" stable neighbor for decades, the gap between the two is narrowing in weird ways. Inflation in Argentina actually tumbled to about 31% by the end of 2025. Yeah, you read that right. From the triple-digit nightmare of 2023 and 2024, the ARS has found a strange, fragile footing.
But here’s the kicker. Even with lower inflation, the Argentine Peso is still losing ground to the Chilean Peso. Why? Because the Central Bank of Argentina (BCRA) just shifted its strategy. Starting this month, January 2026, they moved away from the 1% crawling peg. Now, they're letting the currency bands expand at the same rate as monthly inflation.
Basically, the ARS is being allowed to breathe—or bleed—more naturally.
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Why Chile is Winning the Tug-of-War
Chile’s economy is currently riding a "Full Metal Jacket" wave. Copper prices are holding strong at over $10,000 a ton, and the Central Bank of Chile (BCCh) has been surgically precise. They’ve managed to pull inflation back toward their 3% target right on schedule for the first quarter of 2026.
When Chile has low inflation and high copper revenue, the CLP stays muscular. When Argentina decides to let the ARS devalue in line with its (still high) 2.5% monthly inflation, the CLP to ARS rate naturally climbs. It’s a classic case of one country sprinting while the other is still trying to learn how to walk without a cane.
Breaking Down the Numbers (The Prose Version)
If you look at the snapshot from mid-January 2026, the movement is telling. On January 13, the rate was sitting slightly higher at roughly 1.65. By the time we hit the weekend of January 17, it dipped toward 1.60. A 2.5% swing in four days might not seem like much if you’re just buying a coffee in Mendoza, but for businesses moving millions across the Andes, it’s a headache.
The historical trend is even more wild. A year ago, in January 2025, the rate was nearly 1-to-1. Think about that. In twelve months, the Chilean Peso has gained roughly 60% in value against its neighbor. If you’d tucked 1,000,000 CLP under your mattress a year ago, it would now buy you 1,600,000 ARS instead of just 1,000,000.
That’s a lot of extra empanadas.
What Most People Get Wrong About This Exchange
Most travelers and small-scale traders still obsess over the "Blue Dollar" in Argentina. While the gap between the official and parallel rates has narrowed significantly—thanks to Milei's government loosening capital controls—it hasn't totally vanished.
You’ve gotta be careful. If you’re checking a standard converter for the CLP to ARS rate, you’re seeing the official market. In the streets of Florida Street in Buenos Aires, or even in the border towns like Mendoza and Los Andes, the "real" rate you get might differ.
- The "Official" rate: This is what banks and credit cards use. It’s more transparent now than it’s been in a decade.
- The "MEP" or "Blue" rate: Even in 2026, there’s a slight premium. People still distrust the ARS. They remember the defaults. They remember the 200% inflation. That "trauma" keeps the parallel rate alive, even if the math says the economy is stabilizing.
The Role of Copper and Lithium
Chile isn't just a "stable" economy; it's a commodity powerhouse. As we move deeper into 2026, the global demand for AI infrastructure and data centers has sent copper demand through the roof. This "red gold" provides a floor for the Chilean Peso. Even when the Chilean government faces internal political friction, the sheer volume of money flowing in from mining keeps the CLP from crashing.
Argentina is trying to replicate this with the Vaca Muerta shale gas and lithium mining, but they’re years behind on the infrastructure. This lag is exactly why the CLP continues to outperform the ARS in the short term.
Is the Argentine Peso Finally Safe?
"Safe" is a strong word. Honestly, it’s more like "predictable" now. The consensus among economists at places like BBVA and various Reuters polls is that Argentina will hit about 20% annual inflation by the end of 2026. That is a miracle compared to 2023, but it’s still high.
The BCRA is trying to buy $10 billion in reserves this year. They have to. They have nearly $20 billion in debt maturities coming due throughout 2026. If they fail to build those reserves, the CLP to ARS rate won't just sit at 1.60—it will rocket toward 2.00 or higher.
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There’s a lot of "if" in that sentence.
Actionable Insights for 2026
If you're dealing with these currencies, stop waiting for a massive "crash" to buy or sell. The days of 10% daily jumps in Argentina are (mostly) over.
- For Travelers: Use your credit card in Argentina. The "Turista" rates are now very close to the market reality, and it saves you the sketchiness of carrying bags of cash.
- For Businesses: Watch the BCRA’s monthly inflation announcements. Since the currency bands now move with inflation, you can literally forecast the ARS devaluation by looking at the previous month’s CPI.
- For Investors: Keep an eye on Chilean copper production. If the mines in the north hit a strike or a weather delay, the CLP will soften, giving you a better entry point to convert into ARS.
The CLP to ARS rate isn't just a number on a screen; it's a scoreboard for two very different ways of running a country. Chile is playing the long, steady game. Argentina is trying to win a sprint after starting with two broken legs. Right now, the smart money is on the Chilean side, but don't count out the ARS—it's tougher than it looks.
Keep your eyes on the BCRA reserve levels throughout February. If they can’t hit their $5 billion target for the first quarter, expect the Chilean Peso to flex its muscles even harder.