He MEP dollar, also known as “bag dollar”is one of the ways to buy the US currency legally. It is an exchange rate that operates in the capital market and has fewer restrictions on its purchase than the so-called “solidarity dollar”.
It should be noted that the CCL is more expensive today and that, like the MEP dollar, securities or shares are purchased in pesos within the local market, but with the difference that these are quoted abroad in dollars.
However, there are some caveats, and those who want to buy cable dollar They must have: a dollar account opened in a bank in Argentina; a dollar account opened in a bank abroad and a brokerage account created in a broker that allows access to foreign securities in pesos. In conclusion, the CCL dollar is a variant that Argentines can access to Funding dollar accounts abroad.
It consists of the purchase of a bonus in pesos and, after acquiring it, its sale in dollars. In this way, The exchange rate is calculated by dividing the price in pesos by the price in dollars.
In turn, the financial intermediaries through which the money is purchased MEP dollar They charge a small commission of between 1% and 2% total between the purchase and sale of assets. The most popular securities to do so are the AL30 and the GD30, due to their liquidity in the market.
The MEP has several benefits. In principle, It is a way to acquire foreign currency legally and allows you to quickly get dollars into your bank account without having to leave your home.unlike the illegal or “blue” dollar.
MEP Dollar: Everything you need to know
It is important to keep three things in mind:
1. The period of parking It is a mandatory deadline that must be met when buying bonds in pesos and we want to sell them in dollars. The minimum deadline is 24 hours.
2. AFIP limited the purchase of MEP dollars: established a limit of 100 thousand nominal weekly (equivalent to US$40,000). Small investors will be able to continue buying, since the average purchase for them is around US$3,000.
3. The 24-hour parking restriction for the operation of any asset no longer exists and the limit for the weekly sale of sovereign bonds (AL and GD) with settlement in dollars has been eliminated.
4. The limit of 100 thousand nominal values per week on the sale of sovereign bonds (AL and GD) no longer exists.
Step by step to buy MEP dollar or Bolsa dollar
To buy MEP dollar or dollar bag the following steps must be followed:
- Open an account with a local broker: To obtain the dollar stock exchange, it is necessary to open an investment account in a local stock exchange or brokerage firm. To operate, you must open an account in one of the intermediary companies, which is free and remote. To do so, you must complete a few simple forms and verify your identity.
- Deposit funds: Once the investment account is opened, it is necessary to deposit the amount of money that the person wants to exchange from a bank account of the same holder. Before operating, the CBU of the dollar bank account must be enabled to deposit the money there.
- Buy the GD30 or AL30 bond: To acquire the MEP dollar, you must buy an asset that is traded in pesos and in the US currency with immediate cash settlement (IC). For this, most investors use the GD30 bond because it has a high trading volume and its price is more stable.
- Wait one business day with the asset in your portfolio: The interested party must complete one business day of parking, which consists of a waiting period established by the National Securities Commission (CNV) that the person must go through in order for the money to actually be available in the account.
- Sell the bonds in dollars: Once the parking period has passed, the person can sell the assets. To do so, they must select the “Immediate Cash” option with the AL30D/GD30D label. There they must determine the number of bonds they want to sell and choose the market price. Once the transaction has been carried out, the liquid dollars will be available on the broker’s platform ready to be transferred to the bank account.
MEP dollar: until what time can it be purchased?
Trading hours are from 11am to 5pm.
The MEP dollar or stock market dollar is a stock market transaction that arises from the purchase of certain bonds in pesos, which can be sold in US currency.
By having it in the brokerage account for one day as required by regulation, people can sell it and liquidate it locally. For example, someone who has money in the financial system buys the bond from you. Starting with pesos, you have dollars, which can be transferred to the bank account and have them available to use as desired.
What is the difference with the blue dollar?
In short, the blue dollar is a black market, informal. It involves transactions between private individuals outside the official market, with undeclared banknotes.
Requirements to be able to buy MEP dollars
- Not having purchased savings dollars during the last 90 calendar days and committing not to buy them in the next 90 days.
- Not being a co-holder of a bank account: only one person per account can buy MEP dollars.
- Not currently having a refinancing plan for cards or loans in pesos.
- Not having benefited from the freezing of UVA mortgage payments until July 2022.
- Have declared income to carry out the operation.
MEP dollar: in which apps you can buy it
To buy this exchange rate, you can use the home banking of the different banks (although the purchase of the bonds in this case is manual) or applications such as Balanz, Ualá, Cocos Capital, among others that allow you to do it in one click.
Source: Ambito
I am a 24-year-old writer and journalist who has been working in the news industry for the past two years. I write primarily about market news, so if you’re looking for insights into what’s going on in the stock market or economic indicators, you’ve come to the right place. I also dabble in writing articles on lifestyle trends and pop culture news.
