“The Board of Directors of the BCRA established that the users of natural gas supplies through the network, electricity and drinking water, while they receive a subsidy in some or all of these services, may not access the official market or carry out operations with titles and other securities with settlement in foreign currency”, reported the monetary authority in a statement.
What are Cedars
The Cedears are papers that follow the listings of foreign companies in global markets and that are subscribed in pesos -also in Dollars- but the fluctuations of the dollar continue Cash with Liquidation (CCL). The costs are the same as for trading shares in the local market and you do not need an account abroad.
These variable income instruments began to gain prominence in the Buenos Aires stock market as of September 2020, when the BCRA deepened the exchange trap, and led many savers to take refuge in this type of paper.
Each Cedear has a “conversion ratio”: that is, an equivalence between local papers and outside action. For example, at Apple it is 10 to 1; that is to say that you have to have 10 of local Apple if you want to convert it into an American action. At Amazon it’s 72 to 1, at Microsoft 5 to 1.
Bolsas y Mercados Argentinos (BYMA) established that “Cedear’s minimum trading unit will be equivalent to V$N 1 (nominal value one)”. That is, investors can enter from lower amounts and operate with multiples of 1. In short, it is no longer necessary to buy a full share of the companies, but rather a fraction can be purchased.
Who could no longer buy dollar savings
The exchange trap to access the savings dollar -which includes 30% of the COUNTRY tax and the deductible 35% of Income Tax and Personal Assets- already had restrictions for the following cases:
- Employees who received their salary for the program during the pandemic ATP and the directors and shareholders of those companies
- Those who received the Emergency Family Income from the State (IFE)
- People who own zero rate loans until the end of your installments
- People who operate financial dollars (bonds with foreign currency, either with US dollars MEP and counted with liquidation –CCL-)
- Beneficiaries of social plans as the Universal Child Allowance (AUH), Food Card and Promote Workamong others
- citizens without stable income
- holders of refinanced credit cards
- holders of UVA credits
- holders of shared accounts
- accounts suspicious
How do I know if I am authorized to buy?
Those who wish to access the purchase of the savings dollar and are not within the group affected by the new conditions of the stocks, may verify the qualification through the ANSeS Negative Certification, a voucher that is valid for 30 days, where records are left that you do not register:
- Contributions as a worker under a dependency relationship;
- Affidavits from provinces not adhered to the SIPA (both for active and passive workers);
- Transfers as Self-Employed and/or Monotributista and/or Workers of Private Houses;
- Collection of Maternity Allowance for Workers of Private Houses;
- Collection of Unemployment Benefit;
- Collection of social programs.
- Collection of the Universal Assignment per Child;
- Collection of the Pregnancy Allowance;
- Collection of Progresar Scholarships;
- Collection of pension benefits in force on the date of the request.
- Social work.
- Income Reinforcement Collection.
Source: Ambito
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