The Central Bank of the Argentine Republic (BCRA) approved this Thursday (04.08.2022/XNUMX/XNUMX) the issuance of a dollar bill, intended to stimulate the inflow of external funds for pre-financing of large exporters.
«The currencies received through this mechanism, deposited in the local financial system in a foreign currency account, will enable the financial institution to bid for the equivalent of that deposit in a Dollar Bill," the BCRA indicated in the statement.
The monetary authority detailed that the mechanism placement will be as follows:
-It will be put out to tender periodically.
-The interest rate will be set in a tender as a spread over the SOFER rate.
-The duration will be 180 days with the possibility of pre-cancellation.
In another order of things, the BCRA also enabled access to dollar linked checking accounts, to exporters who advance the settlement by more than thirty days with respect to the period determined for each sector. (BCRA Press Release)
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