Tomorrow, with the first business day of April, The monthly purchase quota of up to US$200 is renewed for retail savers at the official exchange rate in banks and formal exchange houses. Although the Government insists that the exit from the exchange rate is one of the short-term objectives, they also warn that they seek to “avoid risks” and, to do so, first the Central Bank (BCRA) must rebuild its reserves.
“We are not saying that it is impossible to get out of the trap today, but rather that it is a risk that we do not want to take. “We must rebuild the balance of the Central Bank, with this process of purchasing dollars and sterilization,” the president said days ago. minister Luis Caputo, in an interview on LN+. Meanwhile, the restrictions scheme is maintained in which Few Argentines can access the official dollar rate.
Today the dollar savings It is offered in the main banks of the country at a price of $1442.60, according to the daily survey of financial entities carried out by the Central Bank (BCRA). This value arises from adding the official retail exchange rate ($901.63 at the close of Wednesday, the last business day of March) 30% PAIS tax and 30% withholding on account of Profits.
There are two additional ones that were established during the administration of Alberto Fernández for the purchase of dollars for hoarding, although in the current administration modifications have also been made to the rates. It has the same value as the so-called card dollar.
However, since the devaluation of the official dollar on December 13, This price became the highest value in the exchange market. In contrast, the Dolar blue It sells for $1010, about $432 less than the dollar savings (an inverted gap of 37.8% in favor of the parallel, something unusual). Meanwhile he MEP dollar, instrument that allows Argentines to dollarize without exchange restrictions and legally, is quoted at $1016.
Therefore, between the restrictions still in force and a price that is unattractive, fewer and fewer Argentines access this type of exchange. In January, 95,000 people decided to use the quota to buy dollars for hoardingfor a total of US$14 million. It’s a 29% less than in January and 89% less in interannual terms, according to the data from the latest Foreign Exchange Market Survey report prepared by the BCRA. By way of contrast, in July 2020 there was a peak of four million buyers.
Who cannot buy dollar savings
Given the reserve crisis that the Central Bank is going through, in the last four years the Government has tightened the exchange rate. Consequently, Today there are at least a dozen conditions that exclude Argentines from the possibility of buying dollars for hoarding.
For example, today you cannot buy official dollars the workers who received the $60,000 bonus announced by Sergio Massa in September 2023, in the middle of the electoral campaign. Neither are employees in a dependency relationship who accessed loans from Anses, nor the beneficiaries of the reinforcement for informal workers.
Also excluded were those who received their salary through the Work and Production Assistance program (ATP) during the pandemic, those who are joint owners of the bank account or monotributistas who processed credits at zero rate.
Added to the system’s banned list are: beneficiaries of social plans (such as the Emergency Family Income -IFE- or the Universal Child Allowance -AUH-), the holders of UVA credits who agreed to freeze their installments during the pandemic, the owners of SMEs who received loans at 24%, those who buy MEP dollar, among other reasons.
Besides, Payments made with debit and credit cards in foreign currency are part of the quota of US$200 per person. That is, those who have made expenses of this type will be deducted from the monthly quota and will be able to purchase a smaller amount of dollars.
Next the complete list:
- Those who have acquired dollar “Bolsa” or counted with settlement in the previous 90 days.
- Argentines who operated cedars, negotiable obligations or cryptocurrencies in the previous 90 days.
- Beneficiaries of an Anses plan or program, such as Universal Child Allowance (AUH) or the Universal Pregnancy Allowance (AUE).
- Workers in a dependency relationship who have received part of their salary through the Assistance to Work and Production (ATP) or REPRO.
- People without declared or “consistent” income.
- Co-holders of bank accounts.
- Those who have already used their entire quota (US$200 per month) through purchases with credit or debit card.
- Those who have refinanced any credit card balance to 12 months.
- Monotributistas who have processed the credits at zero cost.
- The holders of UVA credits that agreed to the freeze of fees during the pandemic.
- Owners of SMEs that have received loans at 24%.
- those who have subsidies on electricity, water and gas rates.
- Companies that liquidated the soybean dollar.
- Those who accessed the pension moratorium.
- Workers who received the $60,000 bonus.
- Those who requested the Anses credit for workers in a dependency relationship.
- Those who received the reinforcement for informal workers.