As reported by the BCRA through Communication “A” 7630measure exempts payments made by “non-residents by means of debit, credit, purchase or prepaid cards issued abroad” from settlement in the foreign exchange market.
Among them charges for any type of tourist service in the country are included hired by non-residents, including those hired through wholesale or retail travel and tourism agencies in the country, as well as non-resident passenger transport service charges bound for the country by land, air or water.
The procedure implies that the dollars with which tourists pay will be changed into pesos through the financial market by the companies responsible for the cards, not the banks, and then they will pay businesses or services in pesos with the dollar exchange rate MEP calculated “with the most liquid bonds”.
Yes ok it will not be mandatory that card companies offer this service, those that do have the obligation to settle the dollars through the MEP dollar.
MEP dollar trades -unlike those of cash with liquidation – imply that the person or entity buying those dollars through trading on the stock market then deposit them in a bank in Argentina, through its stockbroker.
In that sense, Although the Central Bank will stop receiving the dollars that entered the country through the exchange market, they will serve to increase the gross reservessince a part of the foreign currency that enters will be part of the reserves of the deposits in dollars of the accounts of the sellers.
Source: Ambito
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