Today the quota was renewed to buy up to US$200 of “savings” dollars through the banking startupprice that is positioned $50 below the free exchange rates. However, month after month, the Central Bank (BCRA) has been adding to the list of conditions that Argentines have to meet in order to access the Single Free Exchange Market (MULC), given the difficulties that the monetary authority has in adding to its Bookings.
On the screens of Banco Nación, currently the “solidarity” dollar (as it was called by the ruling party) is sold at $239.25. This value arises from adding a 30% PAIS tax and another 35% on Profits account at the official retail exchange rate, which is positioned at $145.
Comparedthe blue dollar closed yesterday at $290. It’s $50.75 difference. against the dollar MEPtool that allows you to legally circumvent the exchange trap by buying and selling bonds, the distance is $45 (it is sold at $284.4). Cash with settlement (CCL), which is used to turn greenbacks out of the country, is around $295, $55 more expensive.
This price difference between the “savings” dollar and the parallels widened during July, when all the parallels set historical nominal records due to the political and economic crisis. That explains why in the seventh month of the year 1.4 million Argentines bought US bills at the bank. It was an increase of 57% compared to June (when there were 885,000 people) and double compared to last July (690,000 buyers).
Even so, the figures are far from the four million savers in hard currency that was registered in July 2020, before the Central Bank began to add to the list of requirements. Now, with the arrival of tariff segmentation, the entity headed by Miguel Ángel Pesce He anticipated that new prohibitions are coming.
Since the management of Mauricio Macri implemented the limit of up to two Benjamin Franklin bills per person, at the end of October 2019, the Government has been establishing new obstacles to discourage purchases. When Alberto Fernández took office in December of that year, he increased his contribution with the PAIS tax. But without being enough, in September 2020 it added another 35% surcharge to the Earnings account and about ten restrictions for its access, a list that was widened over the months.
In July, it decided that those who operate Argentine Certificates of Deposits (better known as cedears), cryptocurrencies or negotiable obligations, they will not be able to access the “solidarity” dollar 90 days before or 90 days after carrying out said operations. Now those people who signed up for the form to maintain electricity and gas subsidies are also under scrutiny.
“We note that from the announcement, which has not yet been formalized in the issuance of a resolutionthere was a drop of almost 21,000 users who got off the subsidy. Common sense is that the inscriptions rise day by day, but abruptly this state of decline occurred”, explained the comptroller of the Energy Regulatory Entity (ENRE), Walter Martello, who added that “surely they have preferred to be able to save and pay the full rate”.
If this new condition is approved, it would be added to the eleven already existing ones. For example, not having received part of the salary through the Assistance to Work and Production (ATP) program during the pandemicnot be a co-holder of the bank account or be a monotributist and have processed the credits at a zero rate.
Added to the system’s prohibited list are the beneficiaries of social plans (such as the Emergency Family Income or the Universal Child Allowance), the holders of UVA credits who agreed to freeze their contributions, the owners of SMEs who received credits at 24%, who buy the MEP dollar, among other reasons.
Also, Payments made with debit and credit cards in foreign currency are part of the quota of US$200 per person. In other words, those who have made expenses of this type will be deducted from the monthly quota and will be able to buy a smaller amount of dollars. In case of exceeding said amount, they will be left out of the MULC until the quota of the amount of money spent is compensated.