The Government will extend the export dollar until December 10

The Government will extend the export dollar until December 10
November 20, 2023 – 17:47

The portion of foreign currency that can be settled in Cash with Settlement will be increased to 50%. With Friday’s closing prices, the exporting dollar would reach $614.

He Government He will seek to ensure that the liquidation is not cut off in the thirteen remaining rounds of Alberto Fernández’s mandate. For this will extend until December 10 the export incentive scheme that expired this Friday. The decree that will be published this Tuesday in the official bulletin will increase the portion to 50% currency that can be settled in the dollar segment Cashed with Settlement. At Friday’s close, the calculation rounds out an exchange rate of $614.

In the midst of the discussion about the transition in the face of the change of government, the economic team begins to draw up a roadmap to navigate the coming days. In this context, three top-level official sources confirmed to Ambit that the export incentive program will be extended. A sign that They will seek to ensure that the income of foreign currency is not cut off.

On this occasion, as this media learned, all exporters will be allowed to settle 50% of their sales abroad in the Cash with Settlement segment. At the close of last Friday, the wholesale dollar was close to $354, while the CCL touched $876. To those values, The export exchange rate would be around $614of course In the following days it will depend on the variation in prices.

During November, the Central Bank managed to improve its position in the exchange market with this tool and accumulated more than US$286 million. In any case, in a panorama of change of political sign that is still plagued by uncertainties, it is unknown if the benefit It will or will not be attractive enough for those who can pause their exports.

This Monday, the Minister of Economy, Sergio Massa, met with his cabinet and defined the team that will be in charge of the transition: the Secretary of Economic Programming, Gabriel Rubinstein; the head of advisors, Leonardo Madcur; the Secretary of the Treasury, Raúl Rigo; and the president of the BCRA, Miguel Pesce. On the side of La Libertad Avanza, their counterparts have not yet confirmed. There is also no set date for the first meetings.

The Government hopes that tomorrow will be a “normal” day in the financial and banking market. They ensure that banks have the necessary liquidity to face any deposit withdrawal scenario. Along the same lines, they anticipate that the Central Bank will “continue intervening in the bond market.” At the same time, they hope that Milei’s clarifications regarding the fact that there will be no immediate exit from the stocks, not at least until the Leliqs problem is “resolved”, will contribute to the idea that “there is no precipice to the view”.

From Javier Milei’s entourage they assured that there is still no scheduled date or place for a meeting with Alberto Fernández and pointed out that what happens until December 10 “will be his responsibility and that of Sergio Massa. Even though it is short, the transition It doesn’t look simple.

Source: Ambito

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest Posts

Asset management with conviction

Asset management with conviction

The year 2023 will mark two remarkable anniversaries: on the one hand, the 190th anniversary of Schoellerbank and, on the other hand, the 30th anniversary