What does it consist of?
The MEP (Electronic Payment Market) dollar, also known as stock or financial, is an exchange rate that operates in the capital market. The MEP dollar or Stock Dollar is based on buying a financial asset (a bond) in pesos and subsequently selling it in the US currency. The division between the price in pesos and the price in dollars will result in the implicit exchange rate that is accessed. It is important to bear in mind that the financial intermediaries through which the dollar is purchased charge a small commission of between 1% and 2% total between the purchase and sale of assets.
What is a bonus?
The bond is a financial instrument of the fixed income segment issued by a public or private entity in order to obtain financing. It has a pre-established payment scheme and is one of the most predominant titles in investors’ portfolios. The most used bond for this operation is the Bonar 2030 (AL30) for the purchase and the AL30D for the sale.
Who can buy MEP dollar?
- Have not purchased US currency through the bank in the last 90 days.
- Not having received a salary from a company that benefited from the ATP program.
- Not be a beneficiary of IFE, AUH or any other social plan.
- Only one person can buy MEP dollars per bank account.
- Those who could not pay maturities of installments or those who have refinanced the credit card balance for 12 months cannot buy a dollar bag.
- Those who benefited from the freezing of UVA mortgage payments cannot buy until July 2022.
- Unreported income: As in the entire stock market system, you must have declared income to be able to operate the financial dollar.
How to buy? Step by Step
to buy MEP dollar it is necessary to have one savings account in pesos and another in dollars in a bankin the name of the same person or holder.
Instantly, those interested in accessing the dollar bag through the purchase/sale of bonds, they must have a principal account in a Stock Exchange Company or ALYC.
To open a Principal Account in a Bank, the interested party must first have a Savings Bank or a Current Account in the same financial institution. In many cases, this procedure can be done directly online on the official website. Then, once the Principal Account is established, cash transfers can be made between them.
When the pesos are already in the principal account, the next thing to do to acquire the MEP dollar is to buy an asset that is traded in pesos and in the US currency with immediate cash settlement (CI). Most savers and investors use the GD30 bond because it has a high volume of operations and because it has the most stable implicit stock market dollar.
When buying in immediate cash, the bonds will be in our portfolio instantly, but, in order to sell them, we will have to wait one business day (one night), according to the latest regulations of the National Securities Commission (CNV).
After having spent a business day with the bond in the portfolio, it only remains to sell the asset in dollars. To do this, you have to select the species “D”. In the case of the GD30, the public title in dollars will be the GD30D. Again, it is also recommended to do it immediately.
When we have carried out the operation, the liquid dollars will be available on the broker platform ready to be transferred to the bank account.
The last step is to take the currency from the client account to the bank account in dollars. Doing so is very simple because you only have to complete the CBU in dollars from the financial intermediary’s own platform.
The MEP, like the other legal dollars, is simply a foreign currency. If they are in the savings account at the end of the year, they do not pay taxes (Personal Assets). The only ones taxes that are paid with the MEP dollar are found in the commissions of the intermediary agent, who charge, as in any other commercial operation, the Value Added Tax (VAT).
Source: Ambito
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