There are at least 13 exchange rates in effect today in Argentina. Photo Reuters / Rick Wilking
The multiplicity of types of dollar exchange rate In Argentina, a new one has been added in the last few hours: the soybean dollar with which the government tries to liquidate the crop from the agricultural sector and thus obtain foreign currency to give air to the Central Bank’s reserves.
With this new measure, they are at least 13 dollars in exchange current.
1) Wholesale dollar
It is the price that is taken as a reference in the so-called wholesale market, where banks, exchange houses and where the Central Bank intervenes. In this field there is no buy price and another sell price, but they are determined based on the offers to buy or sell made by a specific player with a specific price. The value rises when another player accepts the transaction. It is also known as dollar link.
The wholesale price is usually the wholesale dollar less than the official dollar. The difference between one and the other reflects the profit of the entities.
2) Official dollar
This is how the foreign currency price published by Banco Nación is known. Its value does not include the National tax nor perception due to the Income tax.
3) Blue dollar
It is the price that comes from the purchase-sale of the foreign currency in parallel market, unofficial. 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.
4) Tourist dollar
This is the value obtained from the price of the official dollar and the sum of National taxes (30%) and perception due to the iIncome tax (45%). It is the price that is taken as a reference for consumption in dollars – airline tickets, tour packages, or streaming or music services– but they are paid in pesos.
5) Netflix dollar
Payment in consumer pesos in dollars takes as exchange the value deriving from the official dollar plus the Country Tax (30%) and the Income Tax receipt (45%). This article includes streaming, music, and door-to-door shopping.
6) Savings dollar / Solidarity dollar
It is the price that those authorized to buy US currency for their hoarding have access to. The value comes from the price of the official dollar, to which is added the National taxes (30%) and perception due to the Income tax which, for this case, remained in 35%unlike the rate taken into consideration for the tourist dollar, which was recently raised to 45%.
7) MEP dollar
Also known as “dollar bag”, It arises from the transactions of bonds and shares listed on both local and international markets. This feature allows buy newspapers in pesos and then sell them, at the local market, in dollars. “The price is the result of dividing the amount of pesos spent on the purchase of bonds or stocks by the dollars received at the time of the sale,” he explains on his website. Rava warehouse.
The MEP dollar is one of the tools used by those who are unable to buy dollars for savings, including single-tax payers who have applied for a zero-rate credit; who received part of the salary through the ATP program; beneficiaries of social plans, among others.
8) Cash dollar with settlement
It is a price that arises from the sale of bonds and shares listed both on the local and foreign markets. They are bought in pesos and sold in the local market in its “C” variant and settled in accounts in the United States. “The price is the result of dividing the amount of pesos spent on the purchase of bonds or stocks by the dollars received at the time of the sale,” he explains on his website. stock Exchange.
9) Dollar for foreign tourists
It was recently implemented by the Central Bank so that international tourists sell their tickets in the “empty” market and not in the blue one. Tourists will be able to sell their dollars in banks or exchange houses at the price of the MEP dollar, with a ceiling of $ 5,000 per month.
10) Soybean dollar (special regime until August 31st)
This is the price that comes from the special and temporary regime for agricultural producers to accelerate the sale of the soybean crop put in place by the Central Bank last Wednesday.
The regime implies a series of permits that end up forming an exchange rate higher than the official dollar – to which those who choose not to join this regulated market – e lower than the blue dollar.
70% of what is sold can be applied to a dollar-adjusted pesos sight deposit (ie a dollar / dollar retail link). The remaining 30% can be used for the purchase of dollars with a price equivalent to the exchange rate of the savings / solidarity dollaror the official dollar exchange rate plus the national tax and the advance on profits (35%).
11) Dollar protected
It is the exchange rate that arises from the legal claims made by importers to access foreign currency that the Government – be it the Secretary of Commerce or the Central Bank – denies it through ordinary channels. To the value of the official wholesale dollar, we must add the cost of expenses for the judicial process, which usually ranges from From 5% to 20%. The level of the rates depends on variables such as the amount of the claim, the frequency of the presentations and the time required for the process.
12) Cryptocurrency dollar
It is the price that arises from the cryptocurrency transaction whose value is linked to the dollar. It is the only list that operates 24 hours a day, seven days a week.
13) Exchange rate received by the exporter based on the exported product
Export duties range from 33% paid for soybean and its derivatives to 0% for sectors such as services or micro-exporters. This causes the dollar that each exporter receives to fluctuate to current values between $ 87 from soy to $ 130 of software exporters, as published by Clarin in its print edition.
This is the scale of dollars that exporters receive:
Soybean Dollar: $ 87
With the wholesale dollar at $ 130 and after applying the 33% withholding tax, both soybeans and flour and oil pay the highest rate of all exports. Now the government has put in place a differential scheme that will allow soybean farmers who choose this format to improve the exchange rate they access by 10%.
Grain Dollar: $ 115
External sales of corn and wheat are subject to deductions of 12%, which brings the dollar received by these exporters to $ 115.
Meat: $ 118
Export duties on meat are 9%, which brings the dollar bill received by the industry to $ 118. The same rate is the one that operates in withholding taxes on milk powder exports, which access the same exchange rate.
Cotton and rice: $ 123.5
In the case of these two products, the rate is 5%, which also applies to some products of the regional economies.
Dairy and Wine: $ 124
Wine withholdings reach 4.5%. The same rate applies to dairy products that are not powdered milk, such as fluid milk and cheese, and for some fruit and vegetables, such as pear juice.
Mining and Industry: $ 124
The mining business faces a 4.5% withholding rate, as do several industrial products.
Car: $ 124 to $ 130
Automotive terminals and auto parts companies pay withholdings of 4.5% and 3% respectively, again up to equal the amount of exports invoiced in 2020. If they export beyond that limit, the tariff for these incremental exports goes to 0. %, then they receive the dollar at a wholesale price.
Services: $ 130
Exports of services that include everything from software to accounting and legal aid have been exempt from withholding tax from 1 January of this year. Until 2021 they paid export duties of 5%.
Another industry that does not pay withholding taxes are entrepreneurs and SMEs that sell less than US $ 600,000 annually overseas. These micro-enterprises are part of the Exporta Simple scheme, originally launched in 2017 to facilitate the overseas sales of small amounts and volumes.
Some products of regional economies, such as pears and apples, were also released from withholding taxes.
YN
Nativity Pope Orphan
Source: Clarin
