Since the extension of the second tranche of the swap for 47 billion yuan agreed with China, many importers requested the change of SIRA.
After the extension agreed between Argentina and China of the second tranche of the swap for 47,000 million yuanimporters began to request “en masse” the SIRA change (Import System of the Argentine Republic) to the Chinese currency, as reported from the General Directorate of Customs (DGA).
Based on these currency exchange requests to cancel shipments of import with yuanprovided that the import declaration has been declared in a different currencyforeign trade operators will have to access the “SITA procedure (Customs procedures computer system) – Customs Electronic Multinote (Molar) – Subprocedure 10138 ‘Access to the MULC (Single and free exchange market) in Yuan‘”.
Step by step: how to change from SIRA to Yuans
From AFIP (Federal Administration of Public Revenue) detailed how to complete the process to change from SIRA to Yuan: “It is reported that pursuant to currency exchange requests for cancel import shipments with Yuanes, “As long as the import declaration has been declared in a different currency, Foreign Trade Operators must carry out the following procedure.”
- Enter SITA Procedure on the page AFIP
- Choose the option “Customs Electronic Multinote (MOLAR)”
- Sub-process 10138 “Access to MULC in Yuan”
- Request inclusion of the advantage “ACCESS_MLC_YUAN“, to the import destination/SIRA declaration registered.
Swap with China
He central bank agreed the extension of the swap with China for 47 billion yuan which are equivalent to 6.5 billion dollars, freely available. This was agreed after a meeting held Miguel Pesce this morning with his Chinese counterpart, Pan Gongsheng. In this scenario of high volatility, the activation of the new tranche is key to strengthening intervention in parallel dollars and facing imports.
President Alberto Fernandez announced this morning from China that that country “once again heeded our claims and expanded the use of the swap” by $6.5 billion.
Source: Ambito
