The Government has relaunched one of the limitations on purchasing the MEP dollar (today the cheapest on the market for small savers) and that’s how it worked a kind of trap. The MEP (Electronic Payments Market) dollar, or stock exchange dollar, allows you to purchase that currency by purchasing a bond in pesos and then selling it in dollars.
The acquisition of the MEP dollar has no limits. But there was a provision from the Central Bank which instead stopped these operations.
Until now, people who bought MEP dollars in the different financial applications – which have this service as one of their main attractions – transferred their pesos into virtual wallets and carried out the operation, but I couldn’t freely send those dollars back to the bank. I was just allowed to do one shipment per month and in the meantime she was forced to leave her dollars the customer account of the app.
To contain the question, and below the figure of “risk control”the previous administration had established it banks could only receive one dollar transfer per calendar month.
If the customer made a second transfer from the app customer account to their bank savings account, they had to block it It’s requested documentation to support this operation.
Now, through Communication A 7933, the Central Bank has eliminated this constraint It was submitted in April 2022 and was rejected from savers, apps and brokers.
Today the MEP dollar is the cheapest on the market. It closed at $996 on Friday, versus $1,025 for the blue dollar and $1,325.20 for the tourist dollar, used for card purchases abroad.
Therefore, if the consumption of the card is currently carried out abroad Better to buy the MEP dollar and cancel spending in dollars before the bank converts to pesos and you have to pay the official dollar plus PAIS taxes and advance earnings, which is what makes access to the official dollar more expensive for small savers.
The purchase of the MEP dollar is one of the most carried out operations by Argentines on the capital market: it is 100% legal and online. Furthermore, Javier Milei’s government has lowered the “parking” (minimum period of time in which the security must be held in the portfolio before selling it) to just one business day, thus lowering the risk.
Source: Clarin
