It is an extension for tickets that will soon be out of circulation. The measure has already renewed US $ 6000 million.
He Central Bank of the Argentine Republic (BCRA) Announced an extension that will last until December 31 to allow Argentines to exchange dollars called “small face” or that are slightly damaged through their banks without any cost. This measure occurs in a context of exchange of bills with the United States.
The action consists in sending all these Tickets to the Office of Engraving and Printing (BEP)belonging to the Department of the Treasury, which is the agency in charge of issuing dollars and the exchange of new tickets for other deteriorated or old. This program is carried out for free in the United States, but the BCRA will take over the expenses of the transfer of tickets from Argentina to the Northern country.
BCRA
How to change old or broken dollars
The program carried out by the BCRA allows banks to receive these types of tickets and deposit them in the monetary authority, which is then responsible for sending them to the US for their destruction. The process includes the importation of the new tickets that will enter the accounts of bank customers. The process has no cost for the customer either in the opening of the account in dollars or the deposit itself.
Unlike what usually happens, in this operation the BCRA acts as an intermediary to facilitate the change of tickets instead of limiting dollars to the entities. This service, which until now was provided exclusively by private international banks with an associated cost, will be free for banks attached to the program until December 31, 2025.
Why this measure arises
This mechanism was initiated in August 2024 to accompany the initiative of capital laundering. In any case, it is no longer available for those who seek to externalize unstalled assets, they had to do so until November 2024. The measure also responds to a need for local and public capital banks. According to sources from the monetary authority, until now, private international banks have already carried out this operation to send old bills to the Federal Reserve for destruction, but local and public entities faced greater difficulties in doing so.
Source: Ambito
