The rule repeals general resolutions 907/2011 and 901/2011, which set a weekly quota of 50,000 nominal for the operations of the Settlement and Compensation Agencies (ALyC), mainly arranged with AL30 bonds.
However, as they clarified from the BCRA, “the rule that requires operating against a bank account is maintained”, so that the funds must leave and return to a bank account.
At the time, the restriction imposed by the agency was intended to prevent elusive operations (or “curls”), reduce the volatility of financial exchange rates and contain the impact of fluctuations in financial flows on the real economy.. The decision was made after the final agreement with the International Monetary Fund (IMF) was presented in Congress.
The dollar, according to the memorandum, will thus continue its upward path in line with inflation, while the stocks that govern the exchange market will be “gradually” dismantled, although this measure will not be immediate and will be defined in consensus with the multilateral organization .
Regarding the gradual elimination of the stocks on the dollar, the text of the agreement indicates that it plans to “draw up a strategic roadmap to gradually relax exchange controls outlining the necessary conditions and objectives, also with a view to supporting the gradual restoration of access to the international market as of 2025″.
What measures are still in force
The operation of the stock dollar or MEP consists of buying a bond in pesos and then selling it in its dollar version, while an account abroad is required for the CCL. Two restrictions will still remain in force:
1. It is mandatory to operate through a bank account in the saver’s name.
2. You must wait 1 business day for the purchase of the bond in pesos and its sale in dollars (CCL). For the MEP does not apply.
Who can buy financial dollars
Those who:
- They did not buy a solidarity dollar or savings in the last 90 consecutive days.
- They did not access refinancing, such as frozen credit cards or mortgage loans.
- Not have been a beneficiary of a Zero Rate credit in 2020 or 2021;
- Not having taken the credits at a subsidized rate of 24% for companies.
Source: Ambito
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