The BCRA increased the daily amount for notification from US$10,000 to US$100,000 and eliminated the mandatory registration in a registry of importers and exporters.
While the economic team clings to the Continuity of the trap to the dollar and celebrates how his permanence cushioned the local impact of Monday’s global market shock, The Central Bank made two small relaxations of information restrictions for access to the official dollar, especially for payment of imports.
Through the Communication A 8085he BCRA The amount of transactions for which it is mandatory to report purchases of dollars in advance has been raised, and a registry for importers and exporters in which all companies that need to make payments in foreign currency for foreign trade must be registered has been cancelled.
The measure of the entity that he presides over Santiago Bausili modifies the Foreign and Exchange regulations on those two points. Specifically, the BCRA decided to increase the daily amount from which notice must be given which until now was set at US$10,000 and From August 14th it will go up to US$100,000.
On the other hand, the monetary authority ordered that, starting this Friday, The obligation to register in the “Registry of exchange information for exporters and importers of goods” is eliminated to make payments for foreign trade operations. If the company was not registered, it had to request authorization from the BCRA to access the foreign exchange market.
Long live the stocks?
These are minor simplifications within the framework of the strict capital controls that are still in force. Basically, they reduce the formalities for banks that must carry out low-value transactions requested by their clients, both for the payment of imported goods and services.
In short, The economic team seeks to give signals to the market that its horizon is the elimination of the cepoThe new measure is in line with the (wider-ranging) flexibility implemented last month, when it reduced the payment schedule for most imports from four to two installments, raised the amount of service exports that do not have to be settled in pesos, and eliminated the restriction on people who had received state assistance during the pandemic or received other types of subsidies (such as for energy rates) to buy MEP dollars.
Although the truth is that The bulk of the exchange restrictions remain in place and their lifting seems to be moving further away every day.within the framework of a “phase 2” of the economic program that seems to dispense with the accumulation of foreign currency. This is how the market perceives it, focusing on the red of net reserves, estimated at around US$6 billion.
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Source: Ambito
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