Overview

• Through Comunicación A8336 effective September 26, buyers at the official rate are barred from operating in MEP or CCL for 90 days, and the restriction is reciprocal.
• Banks must obtain a sworn statement from clients committing not to trade securities with settlement in foreign currency during that period.
• The measure extends a rule that covered companies and select financial insiders to all individuals, marking a partial return of the cepo for the public.
• Markets reacted within hours as the MEP climbed and the gap versus the official rate widened, with analysts saying the arbitrage “rulo” was shut down.
• BCRA director Federico Furiase said dollar saving via the official channel remains allowed but those dollars cannot supply financial markets.