Overview

• The Central Bank’s Comunicación A 8336, effective September 26, restores a 90‑day cross‑restriction between purchases of the official dollar and financial dollars (MEP/CCL), enforced via a sworn declaration.
• MEP and CCL prices jumped on the announcement and the exchange-rate gap widened, with market moves of roughly 5% reported on Friday.
• The rule covers retail savers using the monthly quota, companies and MULC participants, and brokers who combined official and financial market trades.
• Economist Florencia Linares says this is not a new broad cepo but a targeted curb on mixing markets, noting that existing dollars can still be used and travel withdrawals remain unaffected.
• Former BCRA chief Martín Redrado criticized the reversal as inconsistent and urged a clearer post‑election FX strategy, adding that U.S. Treasury backing has not yet lowered country risk to his suggested 300–400 basis‑point range.