The lifting of the exchange rate in Argentina marks a significant milestone in the country’s economy, opening new possibilities for citizens in terms of access to dollar. As of today, banks reopen their doors with a completely renewed system that eliminates the restrictions that for years limited the purchase of foreign currencies.
This change, announced by the Government of Javier Milei, seeks to promote economic freedom and reactivate the official exchange market. One of the most prominent aspects of this new stage is that natural persons will no longer have limits to buy dollars in the official market. This means that the monthly stop of 200 dollarswhich had been a constant in recent years, is eliminated.
In addition, all restrictions related to government aids received during pandemic. This includes those who accessed subsidies, credits at a subsidized rate or any type of state assistance. Now, any citizen with a bank account can acquire dollars without justifying their operation or facing additional procedures.
The process to buy dollars has also simplified. Users can perform the operation through digital platforms such as Home Banking or Banks Mobile Applications. Once acquired, dollars can be removed in cash or transferred to accounts abroad without limitations.
This change not only facilitates access to the currency, but also eliminates the 30% surcharge that was previously applied under the concept of anticipation of the income tax. The new exchange scheme introduces a controlled flotation system, where the price of the dollar will range between 1,000 and 1,400 pesos, depending on supply and demand.
The Central Bank will intervene only to prevent the price from falling below the minimum or exceeding the established maximum. This approach seeks to stabilize the market and offer a predictable framework for investors and savers. Although the official dollar will be more accessible, the dollar card, used for expenses abroad, will continue to be subject to a 30%surcharge.
POSIBLITIES
This means that those who make international purchases with a credit card must consider this additional cost. However, for many, the possibility of acquiring dollars at the official price and use them to pay their cards represents a cheaper and more efficient alternative. The lifting of the stocks also has significant implications for companies.
Although natural persons enjoy total liberalization, legal persons still face certain restrictions. For example, imports of goods and services may be paid through the change free market (MLC), but with specific conditions, such as specific advances and deadlines. These measures seek to balance market opening with the need to maintain control over international reserves.
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