2023-10-28 05:29:36
The Central Bank extended the ban on banking entities from increasing their holdings of dollars until November 30.
The imposition has been in force since October 13 and its end was scheduled for October 31 with the aim of avoiding the outflow of reserves in the days close to the elections.
The restriction, resisted by financial entities, will remain in place in the runoff scenario.
In this way, banks cannot increase their position in foreign currency without permission from the Central Bank of the Argentine Republic.
Financial houses will not be able to make purchasing movements in the face of speculation of a possible devaluation, firstly, in view of the presidential election day, and now, in view of the second round.
“This has nothing to do with savers. Savers’ dollars are stored in the BCRA. No one can touch those,” they had clarified from the Central.
The decision has its precedent in the elections two years ago, when the BCRA adopted a similar measure.
“It is the same as in the 2021 electoral process. Banks are told to maintain their cash position in foreign currency without variation until the electoral process ends,” the organization indicated.
The Central Bank also reported the postponement, for the second time, of the entry into force of the electronic fixed term. It is expected that the tool can begin to be used in mid-2024.
The decision to implement the electronic fixed term has its new date in March of the following year.
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