There are still no definitions regarding the “blend dollar”, which allows exporters to settle 20% in cash with settlement and the remaining 80% through the official market.
This last week it was announced the elimination for importers of the obligation to advance 95% of the PAIS Tax to access foreign currency to pay for the products they buy abroad. This happened within the framework of the complete elimination of this tax, which will happen on December 23. At the same time, from the city, they ask When will there be definitions with the “blend dollar”and finally when will be the total lifting of exchange restrictions.
It should be noted that, this Thursday, the BCRA also reported new relaxations of the exchange rate. This time it covered both exports and imports. In the first case, what was done was to extend the term for currency settlement from 5 to 20 days for a large part of the goods and services and advances of goods operations, although, for products linked to wheat, corn, oil and soybeans, among others, it took 15 to 30 days.
For importers, meanwhile, the period of access to the Single Foreign Exchange Market (MULC) for import operations of personal services was reduced from 90 to 30 calendar days.cultural and recreational accrued as of November 29 of this year.
Advantages for foreign trade
“These measures provide more flexibility for exporters in the administration of currency settlement and shorter deadlines to access the official exchange market. This is the second step in the week that implies an improvement in foreign trade operations if we count the suspension of the advance of the PAIS tax on imports. As we have been saying, the Government continues to apply a gradualist “step by step” approach to normalize the flow of foreign exchange from foreign trade.“, they explained from Delphos.
On the other hand, the conditions of access to the MULC are also adjusted for people with liquid foreign assets greater than US$100,000, with specific exceptions related to external debts that are close to maturing.
“This measure, although it does not generate a substantial change in the exchange market, reinforces the idea that the Government aims to lift the restrictions gradually until achieving an improvement in the balance in the BCRA sufficient to completely exit the stocks. Until then , we are likely to see measures that generate small modifications to the scheme, oriented in the direction of gradually lifting restrictions“, they said from Max Capital.
Dollar blend: what will happen
But, where there are still no definitions, is regarding the “blend dollar”, the one for which exporters pay 20% for the cash with settlement (the remaining 80% through the official market) which, in recent times, is beginning to stop making sense given the sharp reduction in the exchange gap and the advance of the official dollar, which continues to rise at 2% monthly.
“With the gap at a minimum, a growing demand for imports, and a slowdown in Central purchases, we await definitions on the blend dollar. It is clear that a low gap helps local carry trade and financial flows, but beginning to dismantle the tangle of regulations must be a priority to normalize the economy,” they expressed from Econviews.
Source: Ambito
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