He Central Bank of the Argentine Republic (BCRA) He presented new changes in his regulations with the aim of advancing with the Mattress Dollar Plan and encouraging the use of foreign currency in the financial system. In that sense, last Friday the agency suspended the Informative regime of “anticipation of exchange operations”.
In detail, the regulations regulated the time with which the financial institutions had to send the information about greater operations to U $ S100,000 a BCRA. The changes were formalized in the “A” 8261 communication of the organism and They will enter into force as of Monday, June 23.
What changes the BCRA had about the use of dollars
The new measure of the BCRA – directed by Santiago Bausili – provides for the suspension of the informative regime of “anticipation of exchange operations”, which was in force since 2019.
The regulations It required financial institutions to send him – at the advance of 48 business hours – the detail of all the major exchange operations AU $ S100,000. This affected both those that are made by human people and by companies (legal persons).
Following the communication “A” 8261, the BCRA announced – on Thursday, June 19 – that will leave said informative regime. As a consequence, from next Monday 23, entities will not be obliged to give the detail within the stipulated time frame.
The cancellation of the informative regime comes just over two months after the announcement of the stocks of the stocks and a greater Release of access to the official change market for people. Despite the north marked by the Government, a series of restrictions still govern companies.
In this way, the management of Javier Milei seeks to eliminate more restrictions, while the decision is a reflection of the greatest liquidity presented by the BCRA in recent weeks.
BOPREAL: The BCRA placed US $ 810 million in the first tender of series 4
The Central Bank held on Wednesday the first tender of the Series 4 of the Bopreal (bonds for the reconstruction of a free Argentina), managing to adjudicate the total offers received, which reached a nominal value of U $ S810 million. As reported by the monetary authority in an official statement, the next auction It will be held on Wednesday, July 2.
This new Breopal series, explained the BCRA, “aims to advance in the resolution of inherited exchange imbalances, associated with stocks retained from debt to the exterior, and is part of as a complement to the flexibility of flows and the normalization of the exchange regime of phase 3 of the economic program initiated on April 11”.
According to Romano Group calculations, taking as reference a similar bonus operating in the secondary market with a Annual yield rate of 8.4%, the price of placement would be between US $ 85 YU $ S87, In line with market expectations. Under that performance and with a 19%exchange gap, the value of the CCL dollar would be $ 1,405.
The Government seeks with this tool to channel An estimated debt at $ 50,000 million —All figures from the BCRA itself – that maintain private companies with their suppliers from abroad and with their matric houses due to utilities distribution.
With this placement, the BCRA aims to offer an exit to a problem that was pending since the management of Alberto Fernández, which had postponed Import payments to preserve reservations. During that period, many companies chose to finance with their suppliers and take advantage of opportunities for Carry Trade instead of fulfilling its obligations. Currently, the level of external commercial debt of the private sector exceeds U $20,000 million its historical average.
Melina Di Napoli, Wealth Management Product Analyst in Balanz, said they expected the price of the Bopreal 4 as an investment option in dollars, of moderate risk and with a performance “slightly above the 1D Bopreal, which expires in October 2027, but of less volatility than the short bonds of the sovereign curve (Al29/al30 and GD29/GD30) ”.
Source: Ambito
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