2024-11-07 09:10:00
Dollar quotes at 06:10
The prices of the different alternatives to access the dollar in Argentina:
- Dollar official: $1014.00
- Dollar blue: $1135.00
- Dollar paper: $1622.40
- Dollar MEP: $1145.69
- Dollar CCL: $1167.58
- Dollar cryptocurrency: $1148.73
What is the CCL dollar
Him dollar counted with the settlement (CCL) is the exchange rate resulting from the operation that allows investors to buy Argentine securities on the local market and sell them abroad to transfer foreign currency to “hoarding”.
What is the MEP dollar?
Him dollar MEP It is an exchange rate that is obtained through the purchase and sale of stocks or bonds. The only difference is that the resulting currencies are deposited locally.
MEP dollar: the five steps to trade
The purchase of dollar MEP It can be done from homebanking and other financial applications.
- The first step is to open account on a platform that allows the purchase of the MEP dollar.
- From the web or an app, transfer and deposit pesos into the account investment through the user’s bank.
- During operation, you need to select the MEP dollar option and then add the amount to invest.
- Automatically, the purchase of the bond and its subsequent sale will be
- It’s legal
- It has no limits
- By being online you avoid the risk of circulating physical money
What is dollar paper
Him one dollar paper is the exchange rate that regulates all transactions (purchase of goods or services by credit or debit card) abroad, including Netflix or Spotify.
Like the solidarity dollar, it is the sum of the official dollar price, plus 60% PAIS taxes (30%) and the 60% withholding tax as an advance on profits
Who can’t buy solidarity dollars?
So far they are prevented from buying solidarity dollars:
- Those who have purchased MEP or CCL dollar in the last 90 days.
- Those who received wages in 2020 through the Production and Labor Assistance Program (ATP).
- Those who receive social plans or state aid such as AUH.
- Single tax payers who have current credits at a subsidized
- Those who do not have the declared income.
- Those who spent their $200 quota with a card (includes, for example, paying for Netflix or Spotify in dollars).
- Those on a 12 installment payment plan for credit card debt.
- Those who have refinanced their debts with banks for personal, collateral or mortgage loans.
- Beneficiaries of the income reinforcement paid in the months of May and June 2022.
- From September 2022, those who receive state subsidies for the payment of electricity and gas tariffs will also be added.
- Those who enter the pension moratorium retire without having 30 years of mandatory contributions.
- ANSES registered workers, retirees and retirees accessing the new credits of up to $400,000.
- Open an account on a platform that allows dollar MEP transactions.
- Deposit pesos into that account via a bank transfer.
- Select the option to buy MEP dollars from the investment platform.
- The platform will automatically execute a purchase of a government bond and subsequently sell it in the foreign market.
- It’s legal, without limits, and conducting these trades online minimizes the risk of handling physical cash.
Read also: all dollar quotes for Wednesday 6 November 2024.
Time.news Interview: Unpacking Argentina’s Dollar Dynamics with Financial Expert, Dr. Mariana López
Interviewer (Time.news Editor): Good morning, Dr. López, and thank you for joining us today to shed light on the complexities of the dollar market in Argentina, especially considering the recent fluctuations we have observed.
Dr. Mariana López: Good morning! Thank you for having me. It’s a pleasure to discuss such an important topic.
Interviewer: To start off, could you summarize the current state of the dollar quotes in Argentina as of today?
Dr. López: Certainly! As of this morning, the official dollar is quoted at $1014, while the blue dollar, which operates in the informal market, is significantly higher at $1135. Other variations include the dollar paper at $1622.40, the MEP dollar at $1145.69, the CCL dollar at $1167.58, and the cryptocurrency dollar at $1148.73. These figures highlight the disparity between the official and unofficial rates, which is a hallmark of the Argentine economy.
Interviewer: That discrepancy is alarming. What factors contribute to such a difference between the official and blue dollar rates?
Dr. López: There are multiple factors at play. Primarily, the tight control of currency by the government encourages many to turn to the blue dollar market for a better rate. Risks associated with inflation and economic instability also drive people to seek alternative dollar options, reflecting a lack of trust in the official currency. Additionally, capital controls limit access to dollars, further fueling demand for the blue dollar.
Interviewer: Interesting. You’ve mentioned different types of dollars available in Argentina. Could you explain what the CCL dollar is and why it’s significant?
Dr. López: The CCL, or “dólar contado con liquidación,” refers to an exchange rate resulting from the buying of Argentine securities in the local market and the selling of those securities abroad. This mechanism facilitates the transfer of foreign currency overseas and serves as a tool for investors to hedge against local inflation and currency devaluation, which is crucial in current economic conditions.
Interviewer: And how does the MEP dollar differ from the CCL dollar?
Dr. López: The MEP, or “dólar MEP,” is obtained through the purchase and sale of stocks or bonds—similar to the CCL—but the key difference is that the currencies obtained are deposited locally. It’s a more accessible option for many individuals looking to convert pesos to dollars without moving assets out of the country.
Interviewer: It sounds like these strategies are popular due to the current economic context. With people often seeking alternative ways to access dollars, what are the steps they should follow to trade in the MEP dollar?
Dr. López: To trade in MEP dollars, one can follow a straightforward five-step process:
Interviewer: Now let’s touch upon the dollar paper. How does it fit into this complex system?
Dr. López: The dollar paper is essentially the rate applied to purchases made abroad, whether it’s streaming services like Netflix or travel expenses. This rate includes the official dollar price plus additional taxes — the PAIS tax and a withholding tax — making it quite hefty compared to the official rate. This reflects the government’s attempt to control foreign currency spending and reinforce capital controls.
Interviewer: Thank you, Dr. López, for providing such clarity on these complex dynamics. What advice would you give to individuals looking to navigate this challenging financial landscape?
Dr. López: It’s crucial for individuals to stay informed about financial regulations and the state of the market. Diversification and understanding the risks associated with each dollar type can help mitigate losses. Consulting with financial advisors is also a wise move before making significant transactions.
Interviewer: Excellent advice! Thank you once again for your insights, Dr. López. We hope to have you back as the situation evolves.
Dr. López: Thank you! I look forward to it.