Although the dollar is unique, Argentines have more than five types in the market due to forms and conditions to access them. So much so that in recent days three others have emerged, according to the Central Bank of the Argentine Republic (BCRA): the soybean and two versions about the tourist.
Meanwhile, SMEs demand a differential rate for the sector. “It is unfair that the factories cannot also be part of it, at a time when our sector is making a great effort to sustain exports, in some cases even at a loss,” said Daniel Rosato, the president of Industriales Pymes Argentinos (IPA). .
“Since there is exchange ratethat is, access to the official dollarit operates at a higher price, reflecting the possibility of freely accessing dollars. This is what we call currency gap“, reported from the Comafi Bank.
“Unfortunately, the country is in a macroeconomic weak positionwith a inflationary dynamics who has fears about sovereign debt sustainability. This makes peso holders looking for cover your purchasing powerdo not find safe peso savings instrumentsso they turn to the other side”, they said from the financial entity, and continued by saying that although it does not look cheap, it is presented as a attractive confident in the face of disorderly scenarios.
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It is a stock market operation that arises from the purchase of certain bonds in pesos, which can be sold in US currency.
By having it one day in the principal’s account as required by regulation, people can sell it and liquidate it locally. For example, whoever has money in the financial system buys the bond from you. Starting from pesos, you made dollars, which can be transferred to the bank account and have them available to use as desired.
What is the difference with the blue
Simply put, this is an informal, black market. These are transactions between private parties outside the official market, of undeclared banknotes.
MEP dollar: what are the requirements
- Not having bought a savings dollar during the last 90 consecutive days and committing not to buy it in the next 90 days.
- Not having cards or loans in refinanced pesos within the framework of the provisions adopted by the BCRA for the health emergency.
- Not having received a salary from a company that benefited from the ATP program.
- Having paid the maturities of installments and not having refinanced the balance of the credit card for 12 months.
- Not having benefited from the freezing of UVA mortgage payments until July 2022.
- Not have received help from state programs.
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How to access the MEP Dollar
Before you begin, you will need to create a client account that will store the money with which you will give the order to the bank or Comprehensive Settlement and Compensation Agent (ALyC) selected. The movements on certain assets will be made in your name and you will also have the possibility of accessing Common Investment Funds (FCI), shares, CEDEARs, futures, bonds, among other instruments.
From IOL Invest Online, a broker with more than 20 years of experience, they assure that you need a couple of selfies, a photo of the front and back of the DNI and some personal data to open it. The process is completely virtual. It has no opening or maintenance cost
What to consider
- Have a bank account (pesos and dollars) in your name
- The most chosen security is the AL30, due to its liquidity in the market. It is also possible to operate the MEP Dollar with the GD30/GD30D foreign law bond since, based on CNV General Resolution No. 907, it will not limit the investor to continue operating other instruments in dollars, such as CEDEARs or Negotiable Obligations in Kind “D” , within the next 30 calendar days
- There is a minimum time that the title must be held in the portfolio before it is sold. This is known as “Parking” and is one business day
For its part, Ualá presented Ualintec Capital in December 2021a new LACto expand the options when investing and the number of people interested in being part of the system.
In this case, we suggest you download the fintech application and follow the steps below.
- Open the Ualá app and select MEP Dollar
- Choose if you want to buy or sell
- Write the amount you want to operate
- Read and accept the affidavit. Click on “Confirm”
In all cases, the money will be credited in the next 24 business hours and you can then transfer it to your own home banking.
Source: Ambito
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