Home Business A group of creditors spoke of the “exotic collection” of Argentine dollars and suggested replacing them

A group of creditors spoke of the “exotic collection” of Argentine dollars and suggested replacing them

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A group of creditors spoke of the “exotic collection” of Argentine dollars and suggested replacing them

The proliferation of dollars locally attracts attention both internally and around the world. A group of Argentine debt creditors referred via networks to the “collection of more and more exotic dollars” (the blue, the MEP, the soy, the IT, the Coldplay and Qatar) that exist in the country and stressed that they should all be replaced by a “free dollar”.

A few hours before the announcements that the government would prepare in relation to more customs dollars, this time it’s about the “Qatari dollar” and dollar shows, Argentina Exchange Bondholders vulture fund referred to the topic via Twitter. “The Soviet Union has definitively proven that markets distribute better than bureaucrats,” they noted from their Twitter account. And in the same line they added: “You don’t need to do that experiment again”

How many dollars coexist in Argentina today

  • Qatari dollar or tourism dollar: The government is studying a rise in the dollar that Argentines use abroad through credit card payments. The so-called Qatari dollar, due to the imminent start of the World Cup that will bring many Argentines to those lands, should arrive once again in the form of an increase in the taxes that are paid today for the use of plastic outside Argentina. This exchange rate would be found in values ​​closer to the price of financial currencies, that is on land of $ 300The solidarity dollar or paper dollar arises from the price of the official dollar plus two taxes: the COUNTRY, which is 30%, and the retention of profits, which when it refers to expenses in dollars abroad, has increased from 35 to 45% months ago. . The official price is this Tuesday at $ 156, which with 30% and 45% plus comes up to $ 273.
  • Dollar for shows or performances: the “show dollar” is amazing given the series of recitals that the British band Coldplay will soon be holding in Buenos Aires. The outflow of foreign currency that this show implies has triggered alerts in Sergio Massa’s office. Due to the difficulties in being able to transfer foreign currency after the visit that international artists make to the country, due to the restrictions on exchange, the Government, together with a group of businessmen from the negotiated a scheme to access those currencies, which will involve a type of change that is increasingly different from those already underway. In this way, they point out that this new scheme would leave an exchange rate close to $ 200.
  • soybean dollar: The “soybean dollar” was created to encourage the liquidation of soybean production at a more competitive value for producers. At the beginning of September, in compliance with a request from the agricultural sector and to strengthen the coffers of the Central Bank, the Minister of Economy and his team announced a different dollar to encourage the liquidation of soybean production. Like this, for one month the producers were paid $ 200 per dollar. Minister Massa explained this on Friday 30 September, the day on which the special exchange rate incentive for the campaigns ended They had made an income of over US $ 8,000 million, so far exceeding the initial goal of $ 5 billion.
  • Tech dollar: after the XXL vacation, the government made official the incentive for companies included in the Knowledge Economy. All the details have been reflected in the Decree 679/2022 on the promotion of investments for the export of the activities of the knowledge economy. Legal entities here or abroad can apply for inclusion in this regime by submitting one or more investment projects aimed at increasing exports to the Secretariat of the Knowledge Economy. You will receive the benefits any legal person, as long as involved the disbursement of a direct investment of not less than US $ 3 million. “The benefit consists in the exception of liquidation in the free exchange market for the export of services up to 20% of the currencies that can be entered as of foreign direct investments, “Sebastián Domínguez, CEO of DSC Tax Advisors, explained to Clarín, tax specialist.
  • The wholesale dollar: the wholesale dollar, also called the interbank dollar, is the one that manages the most significant volume of operations. It is the dollar that is traded in the single and free foreign exchange market (MULC) and which can be accessed by large operators. In this market, the The central bank buys dollars to rebuild its international reserves and sell them at times when demand skyrockets and thus prevent the price from rising. the wholesale price, is found this Tuesday at $ 149.2 for sale, is the one used as a reference for multiple market transactions.
  • The retail dollar: It is the exchange rate that is sold in banks to the public. The BCRA reports daily an average of the prices of all entities and this Tuesday is listed for sale at $ 156.50. As the shares have shrunk, this price is used as a reference only, as no one can access the US currency at that price, without paying the fees associated with the purchase.
  • Tourist dollar or card: A little more than two months ago, the government increased the surcharge applied by AFIP to the Personal Wages and Income account for card spending abroad from 35% to 45%. To this increase must be added the PAIS tax, which is 30%, is in force for the next 3 years and is also non-repayable. This dollar is trading at $ 273.88.
  • Dollar or MEP bag: This is the name given to the exchange rate that comes from the electronic payments market. is approx a stock transaction resulting from the purchase of a bond whose price is in pesos but is convertible to the same dollar-quoted bond, by making the sale transaction in US currency. The operation ends with the transfer of the dollars to a bank account. Although this type of exchange is freely accessible, the only constraint is that the security must be held for one working day, before the closing of the exchange operation, which is called parking. This Tuesday mentions at $ 285.83 on sale.
  • Dollar Cash with regulation: It is a listing that arises from the sale of bonds and shares listed both on the local and foreign markets. It is the exchange rate that companies use to dollarize. This Tuesday trades at $ 305.71 on sale.
  • Cedar dollar: It is the implicit exchange rate that arises from the purchase of these Argentine Certificates of Deposit, the cards that follow the price of the quotations of foreign companies. To calculate this price, you take the price in pesos of the certificates and divide it by the share price in New York in dollars, always taking into account the conversion factor When comparing the foreign currency value of that company’s card with the pesos needed to buy a number of cedars equal to one share, an implicit exchange rate arises.
  • Dollar blue: It is the price that comes from the purchase-sale of the foreign currency in the unofficial parallel market. It is not governed by any Central Bank regulation and, as it is carried out outside the legal circuit, there are no restrictions on its access. This Tuesday trades at $ 279 on sale.

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Source: Clarin

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