The measure was adopted through general resolution 959/2023, which was already published this Tuesday in the Official Gazette and will be in full force as of this Tuesday, after the May 1 holiday.
The National Securities Commission (CNV) established the implementation of new limits for the purchase and sale operations of Dollars (MEP or Bolsa y Contado con Liquidación, CCL), which cannot be carried out if there is a debit guarantee, both in pesos and in dollars.
The measure was adopted through the General resolution 959/2023, which was already published this Tuesday in the Official Gazette and will be in full force as of this Tuesday, after the May 1 holiday.
The keys to the new measure
1. Those who have taken surety or passes will NOT be able to buy MEP or CCL dollars. For those who normally buy CCL or MEP, nothing changes compared to Friday, except if there is a guarantee.
2. ALYCs cannot buy MEP or CCL via PPT but will have to go to OTC or SENEBI.
It is worth remembering that the SENEBI dollar is a wheel parallel to the “screen dollar”, which arises from the operation of buying and selling bonds; and where the big players operate, who agree as buyers or sellers a price for the transaction, independent of the one set by the market. In other words, a company that has pesos in Argentina and needs dollars to move abroad, looks for another company that needs to do the reverse, has dollars abroad and needs pesos for the local market.
This is an agreement between private parties. The participants agree on a price for this exchange, which is not public, but will be based on what arises from the supply and demand between the parties, although in general the exchange price is usually more expensive than the Cash With Liquidation value ( CCL).
Source: Ambito
