The central bank measure aims to stop speculative maneuvers. Those who access the official dollar will not be able to carry out operations with financial dollars.
He Central Bank of the Argentine Republic (BCRA) This Friday surprised to reinstate a regulation of the exchange rate. From now on, those who access the Official dollar They will not be able to perform operations with Financial dollarslike him MEP and the Counted with liquidation (CCL), For 90 calendar days, and restriction also runs reverse.
The measure, communicated through the Communication “A” 8336aims to stop speculative maneuvers known as “Rulos”which arose from the price differences between the different exchange rates.
The official text establishes: “In all cases, the entity must have an affidavit of the client in which it records that it undertakes not to arrange, directly or indirectly or on account and order of third parties, purchases of securities with foreign currency settlement from the moment it requires access and for the 90s (ninety) subsequent calendar days. ”
In social networks, Federico Furiasedirector of the BCRA, clarified: “The measure does not prevent human people from buying dollars to save on the MLC. They can buy those that your patrimonial situation allows them. What does not allow is that with those dollars they supply the financial dollar market. The decision seeks to avoid distortions in the change market. ”
What is the MEP dollar
He MEP dollar It is a mechanism that allows investors to acquire dollars through the purchase and sale of bonds that are listed on pesos and dollars.
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The first step is to open a Citizen account In an authorized stock market.
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Then, the investor transfers the weights to that account to buy bonds in pesos, such as the To 30.
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Subsequently, those titles are sold in their dollar version (To 30d).
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After the operation, the dollars are accredited in the principal account and can be transferred to a savings savings savings saving box.
The main advantage of the MEP dollar is that it allows to buy the desired amount without limit, without paying the country tax (30%)and many times at a lower price than the bank. However, it requires that the investor have bank accounts in pesos and dollars.
What is the CCL dollar
He Counted with liquidation (CCL) It is another financial operation that enables individuals and companies to access dollars abroad through the sale of actions or debt titles that are quoted in both markets.
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The investor buys in Argentina titles that are quoted in pesos and also in dollars in a foreign bag, such as that of New York.
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Then request the Transfer of those titles to a brokerage account abroad.
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Once in the international account, sell the assets and receive the dollars in a bank account outside the country.
The value of the CCL is determined by dividing the price in pesos of purchase of an asset in Argentina for the dollar price of its sale in the foreign market.
In many cases, these funds are withdrawn in cash, being Uruguay One of the preferred destinations for its proximity and facilities.
The objective of the government
With these restrictions, the BCRA seeks to limit the currency exit and moderate the exchange gapwhich continues to feed the distrust of the markets. According to analysts, the measure aims to control volatility in a context of political and economic uncertainty, especially in the previous electoral.
Source: Ambito
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