2023-09-29 02:18:10
In the midst of the controversy over the restriction on virtual wallets, the The Central Bank announced this Thursday a new flexibility of the exchange rate for companies, which will now allow them to enter dollars resulting from financial debt into the country and access the official exchange rate.
The decision, analyzed by market analysts, It could be the prelude to enabling an exchange rate splitwith the aim of decompressing the pressure on the North American currency, especially the parallel currency, in the last stretch of the campaign for the general elections.
“Companies may make capital contributions or enter financial debt into the country through the capital market when the repayment of these foreign currency settlements is also carried out through the capital market.”indicated the Central today after its board meeting.
The decision came in the middle of a complex day for the organization, where gross reserves were once again close to breaking through the floor. US$ 27,000 milliondespite the recent purchases in the exchange market.
Market sources, consulted by the Noticias Argentina agency, evaluated that with this initiative the BCRA led by Miguel Pesce, with a strained relationship with Minister Massa, aims to increase the supply of dollars.
In the statement, the institution clarified that the measure reaches “the liquidation of bonds, negotiable obligations and repatriations of capital and income associated with direct investments that enter from October.”
They make the restrictions more flexible for companies: what is the requirement that they must comply with?
The condition, meanwhile, for companies is that those dollars remain in the country per year and that, if they must return abroad, that operation be carried out again through cash with settlement.
«Companies that use this form of income must do so with the condition that direct investments that enter from October, placed in the local market, have a two-year grace period. In these cases, “There will be no incompatibility to access the exchange market to carry out foreign trade operations.”pointed out the BCRA.
Until this measure, if a company entered debt in dollars, whether an international loan or a bond, using cash with settlement, He could not access the official dollar for a period that ranged from 90 to 180 days.
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